The Jakarta Post
Vietnam, Thailand and Indonesia are in motion to become Southeast Asia’s top three economies in driving future demand for new aircraft, according to one of the world’s top plane manufacturers.
United States airplane manufacturer Boeing said in a statement on Wednesday that Indonesia and Thailand were the region’s second-fastest growing aircraft markets after Vietnam. Since 2010, annual demand growth was about 10 percent in the former two and 15 percent in the latter.
“With an expanding middle class in a market that continues to liberalize, coupled with a strong domestic, regional and international tourism sector, Southeast Asia has become one of the world’s largest aviation markets,” said Boeing commercial marketing vice president Randy Tinseth.
As a result, Southeast Asia is expected to require 4,500 new airplanes, worth US$785 billion, over the next 20 years. The region’s demand for new planes makes up 10.2 percent of projected global demand during the period. Most of the planes will be small, single-aisle units instead of the larger, twin-aisle units.
Growing demand for airplanes also translates to a growing market for airline services and industry employees. The manufacturer estimates the region’s airline service demand will be worth $785 billion until 2038 and require 182,000 new employees, including pilots, cabin crew and technicians.