ASEAN KEY DESTINATIONS
Asia-Pacific fuels air engine growth
Global jet engine orders for commercial aircraft are expected to increase to 22,300 units in 2015 in line with a surge in deliveries of new airliners.
The estimated orders represent an increase of 3,700 units or nearly 20 percent over last year, when the world's six major producers recorded sales of 18,600 units, according to projections by market leader GE Aviation.
Much of the new demand will be in the Asia-Pacific, the fastest-growing aviation market, where the world's two major airframe producers-Boeing and Airbus- predict substantial growth in new aircraft deliveries over the next 20 years.
Boeing said Asia-Pacific airlines will need 10,320 new aircraft worth US$1.3 trillion in the next two decades.
The number of airplanes in Asia-Pacific fleets will nearly triple from 4,110 planes in 2009 to 12,200 in 2029.
Tom Wygle, GE's vice-president for Asia-Pacific, said Airbus was forecasting that 8,560 passenger aircraft would be delivered in the region over the next 20 years or 33 percent of the world total, up from 26 percent in the past two decades.
The Asia-Pacific aviation market will be driven mainly by economic growth, with China and India the main contributors. This will drive sustainable regional growth of 7-8 percent in the aviation industry, which will fuel the need for both new and replacement aircraft.
GE Aviation along with its two joint ventures, CFM International and Engine Alliance, will lift its market share to 67 percent in 2015 from 62 percent last year, said Mr Wygle.
GE and CFM, a joint venture with France's Snecma, together have more than 24,000 engines flying globally. Every two seconds, a GE and/or CFM engine takes off from somewhere in the world. In Asia, GE and CFM are the preferred engine suppliers, powering 60 percent of the fleet.
The Cincinnati, Ohio-based company is lobbying for sales of the GEnx, a new-generation turbine newly developed for Boeing's 787 Dreamliner and 747-8 jumbo jet, to Thai Airways International.
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