Boeing predicts air travel to Bangladesh will double over the next decade, driven by the country’s growing population, expanding economy and middle class.
The aircraft maker made the projections on Wednesday (May 10) in its Commercial Market Outlook (CMO) release on growing demand and capacity for air travel in Bangladesh. As stated, it is an annual forecast of global and regional aircraft demand.
According to Boeing’s forecast, Bangladesh’s annual GDP will grow at a rate of more than 5% until 2032, which is more than twice the global GDP growth average. Also the annual growth rate of air travel will be around 8.5%.
“Capacity in Bangladesh has grown 11% year-on-year since last year due to the easing of travel restrictions,” said Dave Schulte, Boeing Commercial Marketing Managing Director, Asia Pacific and India. Considering regional traffic in the Middle East and India, we expect Bangladeshi air travel to double in the next 10 years.”
According to CMO forecasts, South Asian carriers will need more than 2,300 new commercial aircraft over the next 20 years to meet strong demand for passenger travel and air cargo. This is expected to more than triple South Asia’s current in-service aircraft fleet (700).
Schulte added, “We see great opportunities in South Asia, where growth will require more than 80% of the future fleet. And the remaining 20% will be used to replace old defunct aircraft.”
Single-aisle aircraft such as the 737′ will account for about 90% of South Asia’s future fleet, while 10% of the region’s fleet will be made up of wide-body aircraft such as the 787′. Both these aircraft models are currently in service with Biman Bangladesh and US Bangla.
Schulte added, “Boeing aircraft have played an excellent role in the rapid growth of commercial aviation in this market. Fleet similarity will play a major role in driving growth, especially as it reduces operating costs and expenses associated with training and maintaining customers on our airline.”
