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Southeast Asia critical to Boeing’s expansion in next two decades
February 25th 2021
Boeing said today Southeast Asia would be its fifth largest market in the world by 2039. Read More » The fast growing region of the Asia-Pacific was well-placed for a post-COVID-19 pandemic recovery given its vast domestic and regional air-travel network. “Southeast Asia’s fundamental growth drivers remain robust," Boeing vice president of commercial marketing, Darren Hulst, said in a statement. "With an expanding middle-class and growth in private consumption, the region’s economy has grown by nearly 70% in the last decade, which increases propensity to travel," he said.
In addition, governments in the region continue to recognize the travel and tourism sectors as important drivers of economic growth, Hulst said. “Boeing's 2020 current market outlook (CMO) showed airlines in Southeast Asia were expected take delivery of 4,400 new commercial aircraft – 30 regional jets, 3,580 single aisle aircraft, 760 wide-bodies and 30 freighters – in the next two decades to meet expected demand for air travel. The 2020-2039 forecast was down 2%, from 4,500 aircraft, in the 2020 CMO.
