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Boeing eyes billion dollar Asian market

Boeing has detailed its 2005 Current Market Outlook for the Asia Pacific region, forecasting a market for about 7,200 new airplanes worth $770 billion over the next 20 years.With the continued high rate of growth for Asia Pacific air travel and air cargo markets, Asia Pacific’s fleet will nearly triple to about 8,600 airplanes by the end of the forecast period.

According to Boeing nearly 7,200 new airplanes will be needed for future growth and replacement. Single-aisle airplanes, such as the Boeing 737 will be the largest category with a total of new airplane deliveries at 3,690 airplanes. Intermediate twin-aisles such as the Boeing 787 and 777 will comprise approximately 2,430 airplane deliveries. Regional jets will total 540 units delivered and 747-and-larger size airplanes will be 510 units delivered.

“Passengers are the foundation of air travel, and in a competitive market the airlines will continue meeting passenger’s demands for more direct nonstop flights to destinations around the world with longer-range, efficient and comfortable airplanes,” said Boeing Commercial Airplanes Director-Product Marketing, Analysis and Positioning, Randy Tinseth. “This requirement will be met by airplanes in the 200-to-400 seat capacity category, with only a few very large ones being needed.”