Boeing expects demand growth
Singapore - Boeing estimated that Asia Pacific will need 11,450 more airplanes over the next 20 years to cater to the region's strong passenger growth, while air cargo traffic growth is also expected to return in the second half of this year.
The aircraft manufacturer predicts that twin-aisle planes like the 777 and the 787 Dreamliner will be purchased for long-haul traffic, making up 26% of new deliveries.
The estimated cost for the additional planes will amount to S$1.5 trillion.
"Asia Pacific is a strong and dynamic market. In 2012, we'll continue to see resilient passenger traffic growth levels above the forecasted world average," he said.
He added that almost 80% of the region's new aircraft will be for growth, instead of replacement.
The company projected that passenger airlines will use single-aisle planes like Next-Generation 737 and a new-engine variant 737 Max to connect passengers.
Randy Tinseth, vice president of marketing for Boeing Commercial Airplanes said at the media briefing before the Singapore Airshow's opening, that progress has been made on the new plane.
"We'll start wind tunnel testing next week, which is a major design milestone, and sales momentum continues with more than 1,000 orders and commitments from 15 customers," he said.
Boeing also expects to see 970 new production freighters in the next 20 years for the cargo market, with its 747-8 and 777 Freighters providing industry-leading efficiency.
"We expect positive air cargo traffic growth to return in the latter half of 2012, leading into an average annual growth rate of 5.6% over the 20-year forecast period," Jim Edgar, regional director of cargo marketing at Boeing added.
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