Singapore Airshow: $25b in orders expected
Asia’s largest air show, the Singapore Airshow, kicked off on February 11, and organisers hope to close deals worth $25 billion over the course of six days, according to reports. The air show is also focusing on the defense industry.
Singapore operates the biggest air force in Southeast Asia. The city-state, whose per-capita GDP exceeds that of the US and Germany, regularly allocates about 20 per cent of national spending to defense. Driven by a need to maintain its technological edge, Singapore is planning a number of high-profile defense procurement programs, IHS Jane said in a report last month.
In the civil aviation sector, between 2013 and 2032, the Asia Pacific region, including China and India, will demand nearly 13,000 new aircraft worth $1.9 trillion, according to Boeing’s Current Market Outlook. 36 per cent of the world’s new planes will go to the region.
At the Dubai Airshow, held in November, airlines ordered $206 billion worth of new planes – an air show record. But while Asia is the bigger market, don’t expect to see numbers matching those set in Dubai.
Vietnamese, Indian and Thai airlines are expected to finalise orders for about 100 Airbus and Boeing jets worth $12 billion, according to Reuters.
According to the Center for Aviation, there are more than 25 low-cost carriers operating in Southeast Asia. In 2003, they made up for 3.3 per cent of the region’s capacity. Now they cover 57.4 per cent. More than half the planes in service in the region are single-aisle jets, while 24 per cent are twin-aisles.
However, due to heavy plane orders from budget carriers in the past, there have been concerns about possible overcapacity in the region.
[caption id="attachment_20614" align="alignleft" width="300"] The new Airbus A350 lands at the Singapore Airshow on February 11[/caption] Asia's largest air show, the Singapore Airshow, kicked off on February 11, and organisers hope to close deals worth $25 billion over the course of six days, according to reports. The air show is also focusing on the defense industry. Singapore operates the biggest air force in Southeast Asia. The city-state, whose per-capita GDP exceeds that of the US and Germany, regularly allocates about 20 per cent of national spending to defense. Driven by a need to maintain its technological edge, Singapore is planning...
Asia’s largest air show, the Singapore Airshow, kicked off on February 11, and organisers hope to close deals worth $25 billion over the course of six days, according to reports. The air show is also focusing on the defense industry.
Singapore operates the biggest air force in Southeast Asia. The city-state, whose per-capita GDP exceeds that of the US and Germany, regularly allocates about 20 per cent of national spending to defense. Driven by a need to maintain its technological edge, Singapore is planning a number of high-profile defense procurement programs, IHS Jane said in a report last month.
In the civil aviation sector, between 2013 and 2032, the Asia Pacific region, including China and India, will demand nearly 13,000 new aircraft worth $1.9 trillion, according to Boeing’s Current Market Outlook. 36 per cent of the world’s new planes will go to the region.
At the Dubai Airshow, held in November, airlines ordered $206 billion worth of new planes – an air show record. But while Asia is the bigger market, don’t expect to see numbers matching those set in Dubai.
Vietnamese, Indian and Thai airlines are expected to finalise orders for about 100 Airbus and Boeing jets worth $12 billion, according to Reuters.
According to the Center for Aviation, there are more than 25 low-cost carriers operating in Southeast Asia. In 2003, they made up for 3.3 per cent of the region’s capacity. Now they cover 57.4 per cent. More than half the planes in service in the region are single-aisle jets, while 24 per cent are twin-aisles.
However, due to heavy plane orders from budget carriers in the past, there have been concerns about possible overcapacity in the region.
