SAN FRANCISCO, Oct. 6 (Xinhua) — The Asia-Pacific region will expand its share of the world’s fleet of commercial airplanes to nearly 40 percent over the next two decades, according to Boeing’s 2020 Commercial Market Outlook (CMO) released on Tuesday.
According to the company’s annual 20-year forecast addressing the market for commercial airplanes and services, passenger traffic growth is projected to increase by an average of 4 percent per year from 2020 to 2039.
The global commercial fleet is expected to reach 48,400 by 2039, up from 25,900 airplanes in 2019, the outlook said.
During this period, Asia will continue to expand its share of the world’s fleet, accounting for nearly 40 percent of the fleet compared to about 30 percent in 2019.
The Asia-Pacific region, which is divided into 5 markets including China, Southeast Asia, South Asia, Northeast Asia and Oceania, will need 17,485 new aircraft over 20 years, Boeing said.
Carriers in China will need 8,600 new planes through 2039 with a fleet of 9,360 aircraft by the time, which will become the second-largest fleet after the North American market.
The outlook projects an increase in the share of deliveries replacing older passenger aircraft that are being retired in an accelerated replacement cycle, especially in the first decade.