Vietnamese aviation is projected to drive the industry's growth in Southeast Asia.

This content is part of Boeing's annual Commercial Market Forecast (CMO), which has the broadest forecasting scope in the industry and is considered the most comprehensive analysis in the aerospace industry. The forecast was released on October 24th in Hanoi and October 25th in Ho Chi Minh City.

“Vietnam’s aviation industry has experienced impressive growth over the past five years, with passenger numbers tripling and the number of aircraft doubling,” said Darren Hulst, Vice President of Commercial Marketing at Boeing. “With the fastest-growing middle class in Southeast Asia, coupled with strong domestic and international tourism growth, Vietnam is becoming one of the fastest-growing aviation markets in the world.”

Annual GDP growth exceeding 6%, a rapidly growing middle class, and a thriving tourism industry have driven Vietnam's domestic market to expand fourfold – from 800,000 seats per month (2009) to 3.3 million seats per month (2019). Single-aisle aircraft are projected to remain a key component of Vietnam's domestic and regional fleet, with domestic flights increasing 3.5-fold over the past decade, from 5,340 flights per month (2009) to 18,680 flights per month (2019).

The opportunity to expand long-haul routes is also driving demand for wide-body aircraft. Over the past year, 50 new international destinations have been opened to airlines from Vietnam, and wide-body aircraft built with new technology will help Vietnamese airlines in the future meet two of the largest untapped markets from Vietnam to North America: the route from Ho Chi Minh City to Los Angeles, and from Ho Chi Minh City to San Francisco.

Lan Oanh