India, China to help make Asia-Pacific largest aviation market
India and China would contribute the most in making the Asia-Pacific region the world's largest aviation market by the year 2028.
By PTI |
CHICAGO: India and China would contribute the most in making the Asia-Pacific region the world's largest aviation market by the year 2028, according to commercial airplane maker Boeing, which expects the region to invest 1.1 trillion dollars in new airplanes over the next 20 years.
As more than 40 per cent of the world's airline traffic will begin, end, or take place within the region, 8,960 new commercial jets valued at approximately 1.1 trillion dollars would be required over the next 20 years, Boeing Commercial Airplanes Vice President, Marketing, Randy Tinseth, said.
"Strong domestic growth in China, India and other emerging Asian nations will contribute to high demand for single-aisle airplanes. Over the 20-year forecast period, more than half of the deliveries, some 5,600, will be single-aisles," Tinseth said.
The region was not even mentioned in Boeing's earliest market forecasts back in the 1950s. However, between now and 2028, Asia Pacific air travel will grow from 32 per cent of the world market to 41 per cent, making it world's largest aviation market in the next 20 years, Tinseth was quoted as saying in a statement by the city-based company.
Airlines would switch to more efficient mid-size twins and even larger single-aisle jets, with airlines in the region expected to take delivery of 2,590 twin-aisle airplanes.
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