ASEAN Aerospace Market Profile
Asia-Pacific spans a vast area stretching from Japan to New Zealand that is home to just over half the World’s population. Approximately half of the world’s air traffic growth over the next two decades will be driven by the Asia-Pacific region, making it the world’s largest aviation market. Total air traffic for the region is forecast to grow 6.7 per cent per year during that same period, which will require some 11,450 new aircraft or around a third of all new deliveries worldwide.
Within this region, the economic cluster called the Association of Southeast Asian Nations (ASEAN) is made up of 10 member states (Brunei Darussalam, Burma, Cambodia, Indonesia, Laos, Malaysia, Philippines, Singapore, Thailand and Vietnam) with a population strength of approximately 600million (behind only China and India). The region includes many emerging economies with large populations whose growing prosperity is driving demand for cargo and passenger services. Many of these countries include thousands of islands stretched over large distances, making aviation the only viable mode of long distance domestic and international transportation. Of the total ASEAN population, 200million are categorised within the expanding middle class.
This market profile focuses on opportunities for Canadian companies in Singapore, Indonesia, and Malaysia in the areas of new aircraft,, aircraft structures, maintenance repair and overhaul, aerospace related services and airport infrastructure.
For a full copy of the market profile, please contact the ASEAN Aerospace team leader, Denise Westerhout (firstname.lastname@example.org).