Asia-Pacific is set to account for almost 40 percent of the world's new airplane deliveries over the next two decades, according to the world's largest plane maker Boeing.
The company forecasts the region's airlines will need an additional 12,820 airplanes valued at $1.9 trillion, representing 36 percent of purchases worldwide.
"Asia Pacific economies and passenger traffic continue to exhibit strong growth," said Randy Tinseth, vice president, Marketing, Boeing Commercial Airplanes during a media briefing ahead of the opening of the Singapore Airshow.
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"Over the next 20 years, nearly half of the world's air traffic growth will be driven by travel to, from or within the region. The Asia Pacific fleet will nearly triple, from 5,090 airplanes in 2012 to 14,750 airplanes in 2032, to support the increased demand."
Single-aisle airplanes will represent around 70 percent of the new airplanes in the region, driven by demand by new low-cost carriers and intra-Asia travel.
As for long-haul traffic, Boeing forecasts twin-aisle airplanes such as the 747-8 Intercontinental, 777 and the 787 Dreamliner will account for almost 30 percent of new airplane deliveries.