China to be biggest buyer, Asia expected to add 1,750 aircraft in 20 years: Boeing

Singapore: South Asia is expected to add1,750 new aircraft worth USD 230 billion and recruit 33,000 pilots and 30,000 technicians during the next 20 years, according to a projection presented by Boeing here today.

The South Asian markets would account for 13 per cent in volume and 11 per cent in value of the total 13,460 aircraft worth USD 2 trillion to be bought by the Asia Pacific region during the 20 year period.

Overall, the Asia Pacific region would account for 37 per cent of the number and 39 per cent of the value of the total 36,770 new aircraft worth USD 5. 2 trillion to be added to the global fleet during 2014-2033, the group said.

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China would top the list of investors in airplanes, accounting for 6,020 or 45 per cent of the 13,460 airplanes to be purchased by Asia Pacific region during 2014-2033. The Chinese would spend USD 870 billion or 43 per cent of the total cost.

South East Asia would be the next big buyer of the planes accounting for 3,350 aircrafts worth USD 500 billion or 25 per cent of the number and value.

North Asia would add 1,340 new planes worth USD 280 billion and Oceania 1,000 planes worth USD 140 billion, or 13 per cent and 10 per cent in numbers and 14 per cent and 11 per cent in value respectively.

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According to Boeing, the Asia Pacific region would also require 216,000 pilots out of the 533,000 global requirements during the same period.

Likewise, the region would require 224,000 airline technicians out of the 584,000 global requirements during 2014-2033.

Giving breakdown, Boeing projected South Asia to recruit 33,000 pilots and 30,000 technicians during the same period.

It said China would require 98,000 pilots and 101,000 technicians, South East Asia 55,000 pilots and 55,000 technicians.

North East Asia would require 17,000 pilots and 24,000 technicians and Oceania would need 13,000 pilots and 14,000 technicians during the 20-year period.

“The Asia-Pacific region is seeing tremendous economic growth and is set to become the largest air travel market in the world,” said Bob Bellitto, director, Customer Group, Boeing Flight Services after making the projections.

“That growth rate means booming career opportunities for those interested in becoming commercial airline pilots and maintenance technicians over the next two decades.

“These are strong, stable and challenging jobs in one of the most technologically advanced industries in the world,” he said.

PTI