Boeing estimates that by 2040, air travel within Asia Pacific markets will account for nearly half of global air traffic, driving 20-year demand for 17,645 new airplanes valued at $3.1 trillion.
To support its commercial aviation industry, Asia-Pacific countries will also require aftermarket services valued at $3.7 trillion. Boeing provided the data in its 2021 Commercial Market Outlook (CMO), the company’s long-term forecast of demand for commercial airplanes and services.
The Asia Pacific region has diverse air travel markets, including mature economies in Northeast Asia and Oceania as well as rapidly growing aviation markets in China, South Asia and Southeast Asia. With the travel recovery enabled by rising Covid-19 vaccination, Asia Pacific carriers are well-positioned to capitalize on recovering business and leisure travel as well as air cargo transportation, according to Boeing.
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