By 2042, the Northeast Asia market is scheduled to get 1,350 new aero planes, with 70% of the present fleet replaced by newer, more fuel-efficient aircraft that will boost the region’s carriers’ sustainability and competitiveness.
Boeing has said that it expects future growth in air travel in Northeast Asia to be driven by proximity to Asia Pacific growing economies. According to Boeing, growth in this region will outstrip regional economic development over the next 20 years. This estimate is part of Boeing’s yearly long-term forecast of demand for commercial aeroplanes and related services, the Commercial Market Outlook (CMO).
Boeing forecasts 5.9% annual passenger traffic increase in the region over the next two decades, outpacing the region’s yearly economic growth rate of 1.2%.
In 2042, Southeast Asia will receive the most traffic from Northeast Asia.
By 2042, the Northeast Asia market is scheduled to get 1,350 new aeroplanes, with 70% of the present fleet replaced by newer, more fuel-efficient aircraft that will boost the region’s carriers’ sustainability and competitiveness.
As intra-Asian and international passenger totals rise, LCC market share is predicted to reach 25%, with capacity levels more than tripling.
According to Boeing, widebodies will account for 40% of passenger jet deliveries, compared to 17% globally. The region’s single-aisle fleet will nearly double, from 500 to 920 planes.
According to estimates, 90,000 more specialists will be needed in the aviation industry. There will be 23,000 pilots, 28,000 technicians, and 39,000 cabin staff workers.
The commercial fleet will produce $170 billion in demand for aviation services such as maintenance, repair, training, and spare parts.