Boeing: Southeast Asia fleet will nearly quadruple over the next 20 years

• Fleet will grow 6.9% annually, twice the global rate, tied to low-cost carrier expansion
• Region will account for nearly half of Asia-Pacific deliveries outside China

SINGAPORE, November 10. Boeing says Southeast Asia’s commercial airplane fleet will nearly quadruple to more than 4,000 jets by 2042, becoming one of the global leaders in air traffic and fleet growth. As low-cost carriers (LCCs) become the dominant business model and expand networks across the vast region, Southeast Asia will be the world’s fastest-growing single-aisle airplane market through the 20-year forecast period.

These projections are included in Boeing’s 2023 Commercial Market Outlook (CMO), the company’s annual long-term forecast of demand for commercial airplanes and related services.

“As the Southeast Asia market reopens, air traffic will grow substantially,” said Dave Schulte, Boeing Commercial Marketing managing director for Asia-Pacific. “Expanded connectivity, tourism and low fares will continue to stoke new and increased travel, especially among a growing middle class across the region. The role of LCCs will continue to rise to fill that demand for air travel.”

LCCs in Southeast Asia will add more than 2,000 new single aisle jets over the next 20 years, nearly two-thirds of overall projected 3,390 single-aisle deliveries in the region. LCCs will transport 56% of passenger traffic in 2042, compared to 22% in 2012.

The 2023 Southeast Asia CMO also includes these projections by 2042:

• 83% of deliveries to the region will support fleet growth, while 17% will replace older airplanes with more fuel-efficient models
• The widebody fleet will see a three-fold increase, with demand for nearly 800 airplanes including passenger jets such as Boeing’s 787 Dreamliner, 777X and freighter models
• Fleet growth will drive demand for $310 billion in aviation services including maintenance, repair, training and spare parts

Boeing has published the CMO annually since 1961. As the longest-running jet forecast, the CMO is regarded as the most comprehensive analysis of the commercial aviation industry. Read the complete CMO here or search “Boeing CMO” in your app store.