On Thursday, March 8, 2018, airplane manufacturer Boeing said that the world will need 41,030 new airplanes until 2036 worth a total of $6.1 trillion. Asia is going to be the demand driver since 40% of the demand comes from this region, according to Senior Vice President Dinesh A. Keskar. Of the 41,030 new planes, Asia will account for 16,050 airplanes, ahead of Europe and North America.
With the addition of 16,000 airplanes for the next 20 years, Asia will be the biggest market for airlines in the world. Asia accounts for $2.5 trillion in value with India requiring 2,100 airplanes worth $290 billion.
It is just the aisan pacific market is now booming and is going to be able to dictate what large manufacturers do now in the way America used to need a plane and Boeing made it even if it didn’t suit other markets. Times are changing.
Asia has the majority of the world population in it, and it has seen unprecedented economic development and demand has surged. I am looking forward to the next few years to see what kind of planes asian airlines get, what kind of routes, business model, etc.