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Explainer | Explained: Asia’s aviation success stories – and its biggest flight disasters
- From budget airlines and a boom in passengers to the mystery disappearance of MH370 and the Lion Air crash, Asia’s aviation sector has seen stunning highs – and devastating lows
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The International Air Transport Association estimates that by 2037, the number of air travellers worldwide will have doubled from present levels to 8.2 billion – and much of that growth will come from the Asia-Pacific. By 2030, the region is expected to account for more air travellers than the next two aviation markets – North America and Europe – combined.
China is at the centre of the boom and is forecast to overtake the United States as the world’s largest passenger market in the mid-2020s.
India and Indonesia will take third and fourth place by 2024 and 2030, respectively, and Thailand is set to enter the top 10 markets in 2030, the IATA projects.
Indonesia’s domestic airline market is now the fifth largest in the world. The country’s largest airport operator is looking to spend billions of dollars to expand Jakarta’s Soekarno-Hatta International Airport.
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Air passenger traffic in Southeast Asia grew by around 10 per cent in 2017, according to the CAPA Centre for Aviation.
Six markets in the region – Cambodia, Laos, Myanmar, Thailand, the Philippines and Vietnam – enjoyed at least three years of double digit, or near double digit, passenger growth, CAPA said.
Why does Indonesia have such a notorious air safety record?
Tourism is driving Vietnam’s dramatic aviation boom. The country’s jet fuel demand will hit a record high, and airlines are expanding to keep up with the growth in foreign arrivals.
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