SINGAPORE (WKOW) -- Flying is one of the major ways people get from point A to point B in today's society. Despite the rise in fuel costs and problems with the airline industry of late, global airlines will need 33,500 new planes valued at $4.0 trillion in less than two decades, according to Boeing.
Asia will account for about 35 percent of the total planes needed. Asia-Pacific carriers will require 11,450 new aircraft, worth $1.5 trillion, by 2030, Boeing's vice president for commercial planes Randy Tinseth said at a news conference on the eve of the Singapore Airshow.
"This is the largest market in the world for single-aisle airplanes... for twin-aisle airplanes... for big airplanes. Any way you look at it, this is a big, big market, and this is a growth market," Tinseth said.
Tinseth says the biggest demand in the region will be for single-aisle aircraft. They usually seat between 90 and 200 passengers. Of the 33,500 new planes needed globally, about 60 percent will be for fleet expansion, with the remainder replacing ageing stocks. Boeing and its European rival Airbus are showing off several designs at the biennial Singapore Airshow. It runs from February 14-19.
