ASIAN AVIATION INDUSTRY
Asia has become one the biggest aviation markets in the world; a billion passengers travel to and from, or within the region each year. More than 100 million new passengers are projected to enter the market annually for the foreseeable future. As a result, the airlines and airports in this region are continuously growing, with several ranked among the largest in the world. This evolution has been mainly due to regional economic growth, liberalization, and deregulation; new efficient airplanes, and new business models, over the past decade,
- Jet fleets of Asia airlines have nearly doubled, from 2,900 to 5,850.
- The number of Asia airlines with jet fleets has grown from 150 to 225.
- The capacity that these airlines provide has grown on an average by 7 percent annually.
- Routes to, from, and within Asia have increased 57 percent, from 2,200 to 3,800.
TRAFFIC GROWTH FORECAST IS STRONG
Travel to, from, and within South Asia is expected to grow 8.3 percent over the next 20 years. Domestic, regional, and inter regional travel to the Middle East and Southeast Asia will be the biggest drivers. Traffic within South Asia alone is expected to grow 9.9 percent annually—the highest growth rate among the traffic flows published in this forecast.