Boeing reveals South East Asia to have highest growth

Boeing, one of the largest Aircraft manufacturers believes that around 2100 new aircrafts will be required by Southeast Asian airlines over the near future. The new aircrafts are estimated to cost around USD $330 billion.

The reports were announced recently at a press conference focused on global and Southeast Asian commercial plane markets. Also revealed were various instances of market data and forecasts for the coming year. Reportedly, around 29,000 new aircrafts will be required by various airline companies throughout the world till 2028. This forecast revenue of around USD 3.2 billion.

Also revealed were reports that an encouraging 27 percent of Boeing’s twenty year forecast was already on the order. The manufacturer also said all these orders were balanced by criteria such as type of aircraft, airline business model and geographical regions. It has been said Boeing currently has a backlog of 3,400 aircrafts. These aircrafts are valued at a reported USD 245billion.

The airline industry, which has recently been hit by a volatile business environment and also heavy surcharges like changing fuel prices, is now expected to recover—albeit slowly. Taking a positive front, the airline industry believes the lowest ebb to have passed, and recovery is on its way.
Also revealed at the Boeing conference were statistics that confirm that air traffic growth will be as strong as the economic growth in South East Asia. Air traffic growth is expected to rise at a rate of 6.5 percent in the next twenty years.

In the Asia-Pacific region, growth is expected to rise at a rate of 6.9 percent in the next twenty years.