Boeing projects a demand for 4,210 new aircraft, valued at $650bn, over the next 20 years in Southeast Asia.  This represents slightly more than 10% of projected total global demand over the period — 41,030 aircraft.

The company presented its Southeast Asia Current Market Outlook (CMO) during a briefing at Boeing's regional headquarters in Singapore.

The annual report forecasts the region will continue its strong annual traffic growth at 6.2 percent, outpacing the world's average growth rate by 1.5 percentage points.

Single-aisle aircraft will account for more than 70 percent of new deliveries — 3,230 aircraft, worth $370bn.

As in previous years, the low-cost business model continues to be a main driver of traffic growth in Southeast Asia, accounting for more than 50 percent of the total Southeast Asian market by the end of the forecast period.