On October, talking to the press at a meeting in Ho Chi Minh City about the potential of aviation industry, Mr. Darren A. Hulst, vice president of Commercial Marketing for Boeing, forecast that airlines in the Southeast Asia will need 4,500 new aircraft within the next 20 years with total value of US$710 billion.
This growth will lead the demand for commercial aviation services worth $785 billion during the period from 2019 to 2038. Especially, Vietnam’s aviation market will play the key role in this growth. By 2038, the Vietnam’s aircraft fleet is forecast to increase by four times. In the past years, Vietnam’s aviation industry has showed impressive performance with the number of passengers climbing by three times and the number of aircraft surging by two times. Vietnam is becoming one of the fastest growing aviation markets in the world.
In 2009, Vietnamese airline industry merely provided around 800,000 seats monthly. Ten years later, in 2019, this figure has risen to 3.3 million seats. Single-aisle aircraft are forecast to still play the key role in the aircraft fleet used to exploit domestic and regional flights of Vietnam with the number of domestic flights increasing 3.5 times within the last decade, from 5,340 flights every month in 2009 to 18,680 flights every month in 2019.
Opportunity to open more long-haul flights also urges the demand for wide-body aircraft. In the past year, 50 new international destinations were exploited by Vietnam and wide-body aircraft manufactured with new technology will help Vietnamese airline companies to meet two of the remaining largest markets from Vietnam to North America in the future, such as from HCMC to Los Angeles and from HCMC to San Francisco.
Global forecast for the next 20 years, the representative of Boeing said that new commercial aircraft will reach more than 44,040 aircraft, worth $6.8 trillion. Of which, demand for after-sales service is worth $9.1 trillion.
