Boeing is forecasting air travel in Bangladesh to double in the next decade, driven by the country’s growing population of the middle class and expanding economy.
The aerospace company provided details about the increasing demand and capacity for air travel in Bangladesh in a briefing on Wednesday about its Commercial Market Outlook (CMO), a yearly forecast of global and regional airplane demand.
Through 2032, Bangladesh is expected to achieve an annual economic growth rate of more than 5 percent – double the global average -- supporting annual air-traffic growth at nearly 8.5 percent annually, according to Boeing.
“As travel restrictions were relaxed over the past year, capacity growth in Bangladesh has increased by 11 percent year-over-year,” said Dave Schulte, Boeing Commercial Marketing managing director for Asia Pacific and India. “Led by regional traffic to the Middle East and India, Bangladesh’s air travel is forecast to double over the next 10 years.”
To meet strong demand in passenger travel and air cargo, Boeing anticipates South Asia’s carriers will need more than 2,300 new commercial airplanes over the next 20 years, more than tripling South Asia’s current in-service fleet of 700 airplanes.
“We see tremendous opportunity in South Asia, with more than 80 percent of new deliveries supporting air-travel growth and 20 percent replacing older, less fuel-efficient airplanes,” said Schulte.
Single-aisle airplanes like the Boeing 737 family will make up nearly 90 percent of South Asia’s future fleet, while 10 percent of the regional fleet will be wide body airplanes like the Boeing 787 Dreamliner. Both airplane models are currently in operation with Biman Bangladesh and US Bangla.
“Boeing airplanes have played a tremendous role in the rapid growth of commercial aviation in Bangladesh. Commonality across the fleet will continue to play a major role in boosting growth, especially as it enables our airline customers to reduce operating costs and expenditures associated with training and maintenance,” added Schulte.