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Future of aviation lies in the Asia Pacific region: opinion

Future of aviation lies in the Asia Pacific region: opinion

The Asia Pacific region will account for about 40 percent of demand in the aviation market in the future, according to the vice president of marketing at Boeing Commercial Airplanes.

“If we look at the growth over the next few years, half the growth will be here in the Asia Pacific market,” Randy Tinseth told CNBC.

“This is a market that has been performing well, both in terms of traffic growth for passengers as well as cargo,” Tinseth said. “It’s our biggest market for single aisle airplanes, the biggest market for wide bodies, and the biggest market for freighters. So, this is the future of aviation.”

Given that opportunity, he outlined Boeing’s strategy to ensure the company remains a mainstay in the region: building the right kind of airplanes for customers there.

“For us, it’s about building the right airplanes with the right capabilities to provide the kind of flexibility our customers need,” Tinseth said.

“A great example of that is last year — we delivered our first MAX aircraft that is up to 20 percent more efficient than airplanes flying today,” he explained, adding that it would allow customers to connect to new markets.

The Boeing executive said he is bullish about his company’s growth trajectory — despite rival Airbus ending 2017 with more orders.

“I’ll tell you what. Over the last six years, we’ve been the leader in the market in terms of delivery and frankly, it’s deliveries that count,” he said.

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