Sun, November 15, 2009
Business > Industries

Asia-Pacific region to become world's leading aviation market in 20 years, Boeing

2009-11-15 09:18:16 GMT2009-11-15 17:18:16 (Beijing Time)  Xinhua English

TIANJIN, Nov. 15 (Xinhua) -- The Asia-Pacific region will become a leader in the world's aviation market in the next 20 years, forecast an executive officer of the Boeing company.

The Asia-Pacific region would lead the global aviation market with growing demand and become a new center of the world aviation market in the next two decades, said Kenneth G. Yata, Vice President of Business Development of Boeing (China) Co., Ltd. at an international forum on manufacturing industry management held Saturday in Tianjin, a north China port city.

As demand in Europe and the United States slows, the Asia-Pacific region will be a growing market for commercial airplanes in the coming two decades to fit increasing demand for tourism, passenger and freight transport, said Yata.

He said, passenger flow by air will increase by an average 6.5 percent annually in the region in the coming two decades, surpassing the North American and European markets, said Yata.

Currently, Asia-Pacific region accounts for 32 percent of the world's air passenger market. By 2028, the share is likely to rise to 41 percent, the company forecast.

To Boeing, China would be the second largest market for commercial planes in the next two decades, said Yata, adding the country would buy an estimated 400 billion U.S. dollars' worth of commercial airplanes, or 3,700 units over the period.

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