by Andrew Wong
The Asia Pacific region will account for about 40 percent of demand in the aviation market in the future, according to the vice president of marketing at Boeing Commercial Airplanes said.
"If we look at the growth over the next few years, half the growth will be here in the Asia Pacific market," Randy Tinseth told CNBC from Singapore.
The future of aviation will be in the Asia Pacific region, the vice president of marketing at Boeing Commercial Airplanes said.
Speaking from Singapore, Randy Tinseth said that the region would account for about 40 percent of the market's future demand.
"If we look at the growth over the next few years, half the growth will be here in the Asia Pacific market," Tinseth told CNBC.
"This is a market that has been performing well, both in terms of traffic growth for passengers as well as cargo," Tinseth said. "It's our biggest market for single aisle airplanes, the biggest market for wide bodies, and the biggest market for freighters. So, this is the future of aviation."
Given that opportunity, he outlined Boeing's strategy to ensure the company remains a mainstay in the region: building the right kind of airplanes for customers there.
"For us, it's about building the right airplanes with the right capabilities to provide the kind of flexibility our customers need," Tinseth said.
"A great example of that is last year — we delivered our first MAX aircraft that is up to 20 percent more efficient than airplanes flying today," he explained, adding that it would allow customers to connect to new markets.
The Boeing executive said he is bullish about his company's growth trajectory — despite rival Airbus ending 2017 with more orders.
"I'll tell you what. Over the last six years, we've been the leader in the market in terms of delivery and frankly, it's deliveries that count," he said.
Boeing announced last month that it delivered a record 763 airplanes in 2017. That amounted to 49 percent of the single aisle airplanes and 60 percent of the wide bodied airplanes in the market, Tinseth said. He predicted that the company will outdo itself in 2018.
"This year, we are on track to deliver somewhere between 810 and 815 airplanes, so that should be another industry record."