Boeing vice-president for marketing Randy Tinseth said aircraft demand in South Korea and Japan will grow over the next 20 years to $190bn.
Tinseth said the demand for a total of 1,210 aircraft, including 760 new units and 450 for replacement, will be created between 2010 and 2029 in the two countries.
Demand will rise due to the growth in air traffic in South Korea and Japan, which is expected to rise at an annual average of 7.1% over the next 20 years.
Tinseth said the development of Incheon International Airport and the rapid growth of low-cost carriers will drive the future of South Korea’s aviation market.
South Korean budget carriers recorded a rise in their domestic market share over the past five years, driven by demand for low-cost flights, according to bernama.com.
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