According to Boeing’s 2023 Commercial Market Outlook (CMO), the commercial airplane fleet in Southeast Asia will increase nearly fourfold to over 4,000 jets by 2042.
This rapid growth will position the region as one of the leading global players in air traffic and fleet expansion. The rise of low-cost carriers (LCCs) as the dominant business model and their expansion into various destinations across Southeast Asia will make it the world’s fastest-growing market for single-aisle airplanes over the next two decades.
The CMO provides these projections as part of Boeing’s annual long-term forecast for commercial airplanes and related services.
“As the Southeast Asia market reopens, air traffic will grow substantially,” said Dave Schulte, Boeing Commercial Marketing managing director for Asia-Pacific. “Expanded connectivity, tourism, and low fares will continue to stoke new and increased travel, especially among a growing middle class across the region. The role of LCCs will continue to rise to fill that demand for air travel.”
Southeast Asia’s low-cost carriers (LCCs) will increase their fleet with over 2,000 new single-aisle jets over the next 20 years. This means that LCCs will account for nearly two-thirds of the total projected 3,390 single-aisle aircraft deliveries in the region. Furthermore, Boeing predicts that by 2042, LCCs will handle 56% of passenger traffic. This is a significant increase from the 22% they handled in 2012.
2023 Southeast Asia CMO Projections by 2042
- 83% of deliveries to the region will support fleet growth, while 17% will replace older airplanes with more fuel-efficient models
- The widebody fleet will increase three-fold. Boeing predicts demand for nearly 800 airplanes, including passenger jets such as Boeing’s 787 Dreamliner, 777X, and freighter models.
- Fleet growth will drive demand for $310 billion in aviation services, including maintenance, repair, training, and spare parts.
Commercial airplane deliveries to Southeast Asia (2023-2042)
- Regional Jets: 45
- Single Aisle: 3,390
- Widebody: 770
- Freighter: 20
- Total: 4,225
AAPA Leaders Celebrate Return to Growth
Airline leaders at the Association of Asia Pacific Airlines (AAPA) 67th Assembly of Presidents in Singapore expressed their satisfaction with the strong recovery of air travel in the Asia Pacific region. They focused on sustainability, aviation safety, and regulatory impact. AAPA members are optimistic about the future and expect a full recovery next year. Despite economic challenges, international air passenger traffic in the region increased by 171% compared to 2022. Seat capacity grew slower due to supply chain issues, but load factors are back to normal. Airfares remain high due to strong demand. Air cargo demand decreased by 6% in the first nine months of 2023. However, it is expected to improve as the global economy stabilizes.
About the Boeing CMO
Boeing has published the CMO annually since 1961. As the longest-running jet forecast, the CMO is the most comprehensive analysis of the commercial aviation industry. Read the complete CMO here or search “Boeing CMO” in your app store.