Boeing projects that Southeast Asia is poised to emerge as a global leader in air traffic and fleet expansion, with its commercial airplane fleet set to nearly quadruple to more than 4,000 jets by 2042. The region is expected to witness unprecedented growth, establishing itself as the world’s fastest-growing single-aisle airplane market over the next two decades, driven by the ascent of low-cost carriers (LCCs) as the dominant business model.
According to Boeing’s 2023 Commercial Market Outlook (CMO), an annual long-term forecast of demand for commercial airplanes and related services, Southeast Asia’s air traffic will experience substantial growth as the market reopens. Dave Schulte, Boeing Commercial Marketing Managing Director for Asia-Pacific, anticipates that expanded connectivity, tourism and low fares will fuel increased travel, particularly among the growing middle-class in the region. LCCs are expected to play a pivotal role in meeting the rising demand for air travel.
The 2023 Southeast Asia CMO outlines key projections for 2042, including:
- Low-cost carriers in Southeast Asia are forecasted to introduce more than 2,000 new single-aisle jets in the next two decades, representing nearly two-thirds of the projected 3,390 single-aisle deliveries in the region.
- LCCs are anticipated to command 56% of passenger traffic in 2042, a significant increase from the 22% recorded in 2012.
- Of the total commercial airplane deliveries to Southeast Asia by 2042, 83% will support fleet expansion, while 17% will involve the replacement of older aircraft with more fuel-efficient models.
- The wide-body fleet is expected to triple in size, with demand for nearly 800 airplanes, encompassing passenger jets like Boeing’s 787 Dreamliner and 777X, as well as freighter models.
- Fleet growth will drive a demand of US$310 billion in aviation services, covering maintenance, repair, training and spare parts.
Commercial airplane deliveries to Southeast Asia (2023-2042): Regional Jet: 45, Single-Aisle: 3,390, Wide-body: 770, Freighter: 20
Boeing’s 2023 CMO for Southeast Asia, published annually since 1961, stands as the industry’s most comprehensive analysis and is a testament to the company’s commitment to forecasting aviation trends.
