Driven by projected strong economic and passenger growth, the Asia-Pacific region's airlines will need nearly 13,000 new airplanes valued at $1.9 trillion over the next 20 years, Boeing said Monday.
The region will represent 36 percent of the world's new airplane deliveries, the Chicago-based aerospace giant said at the opening of the Singapore Air Show.
"Over the next 20 years, nearly half of the world's air traffic growth will be driven by travel to, from or within the region," said Randy Tinseth, vice president of marketing for Boeing Commercial Airplanes. "The Asia-Pacific fleet will nearly triple, from 5,090 airplanes in 2012 to 14,750 airplanes in 2032, to support the increased demand."
Boeing's data projects that passenger airlines in the region will rely primarily on single-aisle airplanes such as the Next-Generation 737 and the 737 MAX, a new-engine variant of the popular 737, to connect passengers. Single-aisle airplanes will represent 69 percent of the new airplanes in the region.
"New, low-cost carriers and demand for intra-Asia travel have fueled the substantial increase in single-aisle airplanes," Tinseth said. "Fuel-efficient airplanes like the Next-Generation 737 and 737 MAX help the growing number of low-cost carriers operate more efficiently and provide affordable fares to the emerging middle class."
For long-haul traffic, Boeing forecasts that twin-aisle airplanes such as the 747-8 Intercontinental, 777 and the 787 Dreamliner will account for 28 percent of new airplane deliveries.
The company's recently launched 787-10 and 777X also will support demand for fuel-efficient twin-aisle airplanes in the region. Singapore Airlines recently ordered 30 787-10s to help launch the program at the 2013 Paris Air Show, and Cathay Pacific recently ordered 21 777-9X airplanes.
Boeing makes parts for and assembles the 787 Dreamliner in North Charleston and Everett, Wash. It also will soon build engine inlet components for the 737 MAX in North Charleston. The plant is under construction in Palmetto Commerce Park behind Boeing's interiors fabrication plant for the 787.
Reach Warren L. Wise at 937-5524 or twitter.com/warrenlancewise.