Boeing Predicts Asia-Pacific Air Travel Market to Boom through 2032, Signs Record Deal with Lion Air

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Researched by Industrial Info Resources (Sugar Land, Texas)--The Boeing Company (NYSE:BA) (Chicago, Illinois) forecasts that the Asia-Pacific region will rank as the world's largest aviation market over the next 20 years, requiring 8,960 new commercial jets valued at approximately $1.1 trillion. Helping to reach that goal, Boeing has signed its largest-ever commercial airplane order in both dollar value and number of airplanes.

Lion Air (Jakarta, Indonesia) purchased 230 Boeing airplanes for a record $22.4 billion. Lion Air, a private airline and major Boeing customer, signed a commitment to order 201 of Boeing's 737 MAX single aisle jets and 29 extended-range 737-900Ers. It also includes purchase rights for an additional 150 airplanes. According to Boeing, more than 40% of the world's airline traffic will begin, end or take place within the Asia-Pacific region 20 years from now, and between now and 2028, Asia-Pacific air travel will grow from 32% of the world market to 41%.

The Asia-Pacific region covers a broad area, including Indonesia, Japan, Korea, China, Australia and India, and currently accounts for more than 8,300 flights and 1.2 million travelers daily. In less than 10 years, it will be the largest air travel market in the world, according to Boeing, and travel is expected to grow at an average annual rate of 6.5% over the next 20 years.

Boeing Commercial Airplanes (Renton, Washington), a business unit of The Boeing Company, has operations in more than a dozen cities and countries. The business unit comprises five airplane programs, VIP-derivative airplanes, extensive fabrication and assembly facilities, and a global customer support organization.

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