Boeing expects stronger demand from S-E Asia

Singapore

EVEN as airlines in the region grapple with headwinds in the near-term, South-east Asia remains one of the fastest growing markets in aviation, with US planemaker Boeing projecting a demand for 4,210 new aircraft valued at US$650 billion over the next two decades. This is up from its previous forecast, issued last year, of 3,750 aircraft worth US$550 billion.

In its annual South-east Asia Current Market Outlook report, Boeing estimates that the region is expected to post robust annual traffic growth at 6.2 per cent, outstripping the global growth rate of a slower 1.5 per cent.