Aviation markets take off

According to figures presented by Boeing, the global passenger airplane fleet included 19,410 planes in 2010, and is expected to expand to more than 39,500 by 2030.

This projection meant that over the next 18 years, airlines around the world were set to order 33,500 new planes valued at $4 trillion (3.02 trillion euros), Randy Tinseth, Boeing's vice president, said at a news conference on the eve of the Singapore Airshow on Monday.

Tinseth said that 60 percent of this number would be due to "fleet expansion", while the rest of it was needed to "replace ageing stocks."

Boeing expects that in the Asia-Pacific region 80 percent will be for fleet growth as carriers there would be requiring 11,450 aircraft worth $1.5 trillion by 2030.

"This is the largest market in the world for single-aisle airplanes… for twin-aisle airplanes… for big airplanes," Tinseth said, adding that the Asia-Pacific region was "a growth market" by all accounts.

Tailor-made models

The US plane maker forecast air traffic in that region to grow by 6.7 percent annually during the period, as countries such as China and India were among the world's fastest growing economies and aviation markets.

"The Asia-Pacific region will continue to be a leader, as economic growth drives a tripling of traffic and a near doubling of the world freighter fleet over the next two decades," Jim Edgar, Boeing's Regional Marketing Director, said.

Boeing expects single-aisle aircraft, seating between 90 and 200 passengers, to be the models most sought-after, notably by budget airlines.

In efforts to meet this demand, Randy Tinseth, said Boeing would "ramp up production of such models," including its next-generation single-aisle 737 MAX aircraft.

The US plane maker was also considering developing a bigger version of its mid-size 787 Dreamliner so that it can seat up to 320 passengers, or 40 more than the current 787-9 model.

Author: Uwe Hessler (AFP, Reuters, dpa)
Editor: Michael Lawton