BANGKOK, Thailand – Thai aerospace is ready to take off with the huge opportunity of maintenance, repair and overhaul (MRO) services, but airline competition will continue to intensify as low-cost carriers broaden their networks. With the rapid growth of aviation and aerospace across Southeast Asia, Thailand is taking advantage of the trend with its central location and booming tourism industry.US plane maker Boeing forecasts demand for new aircraft in Asia-Pacific to increase 2.8 times over the next 18 years, from current demand of 6,139 to 16,977 aircraft, reports the Bangkok Post.
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The Intelligent Aerospace take:
January 3, 2019-Air travel is booming in places with growing wealth spiking demand. China aims to nearly double the amount of airports it has inside its borders by 2035, while air travel is expected to double in Latin America in the next two decades. Thai officials noted that passenger travel increased by 9.4 percent and cargo travel increasing 9.7 percent year over year. With Boeing forecasting demand for new aircraft in the Asia Pacific region to grow by 280 percent in the next 18 years, Thailand believes its location will help it grow to be a regional force in the MRO market in the coming years.
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Related: Latin American air travel expected to double in the next two decades
Related: China aims to nearly double its number of civil airports by 2035
Jamie Whitney, Associate Editor
Intelligent Aerospace
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