As per Boeing, airlines in South East Asia will need 4,500 new airplanes over the next 20 years, valued at $710 billion. Single-aisle airplanes continue to be the main driver of capacity growth in Southeast Asia. This growth helps to stimulate the demand for commercial aviation services, which are anticipated to be worth $785 billion between 2019 and 2038.
“In Southeast Asia, Vietnam, Thailand and Indonesia were in the top 10 countries that added the most airline seat capacity since 2010. Vietnam has registered the strongest growth at 15 per cent per year, followed by Thailand and Indonesia at approximately 10 per cent respectively,” said Randy Tinseth, Vice President, Commercial Marketing, Boeing. While singleaisle airplanes dominate the forecast, this region will also require a significant amount of wide-body airplanes. The demand is driven by airlines adapting to the evolving business environment and new long-haul expansion opportunities. Wide-body airplanes will make up 19 per cent of new airplane deliveries, enabling carriers in the region to serve new international longrange city pairs.
Aviation growth in the region is expected to drive the need for 1,82,000 commercial pilots, cabin crew and technicians to fly and maintain the airplane fleet across Southeast Asia. This demand is projected based on a mix of new airplane deliveries, annual aircraft utilisation rates, crewing requirements by region and regulatory requirements. In the air cargo sector, after a decline in 2019, global freight volumes are projected to recover in 2020 due in large part to solid industrial production and world trade. Over the long-term, air cargo is projected to grow 4.2 per cent through the forecast period. Freighters will remain the backbone of the cargo industry with the need for 1,040 new and 1,780 converted freighter aircraft over the next 20 years.