The Boeing Go. (Chicago, III.) released its Current Market Outlook for the Asia-Pacific region on March 7, forecasting a market for about 7,200 new airplanes worth 770 billion dollars (USD) over the next 20 years. Boeing projects passenger traffic within Asia-Pacific to grow 6 percent per year, outpacing the world average of nearly 5 percent over the next 20 years. This robust air travel growth will prompt significant expansion on the part of Asia-Pacific carrier's. Carrier expansions will result in the high regional demand during the forecast period, Boeing says. With the continued high rate of growth for Asia-Pacific air travel and air cargo markets, the region's fleet will nearly triple, according to Boeing, to about 8,600 airplanes by the end of the forecast period. According to the report, nearly 7,200 new airplanes will be needed for future growth and replacement.
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