Thu, Oct 20, 2011
Korea’s Commercial Aviation Set For Growth - Strong
Demand For Twin-Aisle Airplanes
As many as 1,250 new airplanes will be delivered to Northeast
Asian carriers valued at approximately US $200 billion over the
next 20 years, according to projections from Boeing. “The
combined effect of liberalization and rapid economic growth is
driving passenger traffic in the region,” said Randy Tinseth,
Boeing Commercial Airplanes Vice President of Marketing, speaking
at the 2011 Seoul Air Show. “In Korea, Incheon International
Airport serves as a major hub in the region and the Korean
peninsula is perfectly situated between Japan and China –
allowing it to continue as a gateway to key markets in
Asia.”
Dreamliner Arrives In Seoul, South
Korea
Tinseth shared the company’s market data and forecast for
Northeast Asia’s commercial airplane market and gave
reporters a tour of the new Boeing 787 Dreamliner. “Air
travel in Northeast Asia is expected to grow moderately at 4.3
percent annually over the next 20 years,” Tinseth said.
“Korea’s dynamic economy as well as the nation’s
thirst for air travel will fuel growth for the region.”
Two-thirds of Northeast Asia’s projected 1,250 airplane
deliveries will be for growth. With more than 110 aircraft already
on order, the airlines of Korea are truly poised for grow. Taking
into account airplanes set to retire, the fleet in Northeast Asia
will increase from 690 airplanes today to 1,520 in 2030.
Northeast Asia is a big market for twin aisle and large
aircraft. These aircraft account for about 45 percent of the
region’s demand for aircraft in terms of units and almost 70
percent in terms of value. Boeing also forecasts single-aisle
jetliners will account for 46 percent of new airplane deliveries to
the region. The demand for single-aisle airplanes is driven by the
growing number of low-cost carriers providing intra- and
inter-regional service.
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