Asia-Pacific Region to Witness Surge in Air Travel: Boeing Forecasts 2,835 Aircraft Additions
As the middle class expands and economic growth fuels travel, Boeing predicts a significant increase in air travel across the Indian and South Asian regions over the next two decades.
The aerospace giant expects airlines in these regions to add an estimated 2,835 commercial aircraft to their fleets, a significant increase from the current levels and a four-fold surge over the next 20 years.
"Increased access to air travel will drive demand for modern and fuel-efficient aircraft to meet the growing demand over the next two decades," said Ashwin Naidu, Boeing's Managing Director of Commercial Marketing for India and South Asia.
Boeing estimates that single-aisle aircraft will dominate deliveries, accounting for approximately nine out of ten new planes added to the regions' fleets. Widebody aircraft are also expected to witness a substantial increase, with a predicted quadrupling in fleet size to 370 aircraft.
The region's air traffic is projected to grow by over 7% annually through 2043, highlighting the significant growth potential for the aviation industry.
India, as the third-largest domestic aviation market globally, is experiencing rapid growth. IndiGo and Air India lead the market, with 1,800 aircraft on order from global planemakers. Despite supply chain challenges affecting aircraft production, demand for planes remains high, with Indian airlines expected to receive 130 jets this year.
Boeing also projects a surge in demand for aviation professionals, estimating that the need for pilots, cabin crew, and technicians will quadruple to 129,000 over the next 20 years.