Northeast Asia, which includes Japan, North and South Korea,
and Taiwan, accounts for 10 percent of world gross domestic
product (GDP). Although the region’s GDP is growing more slowly
than the world average, it is expected to maintain a sustaining
rate of 1.3 percent over the next 20 years. It also is expected to
help drive passenger traffic growth of 2.6 percent and cargo
traffic growth of 4.6 percent through 2034. This growth will result
in a need for 1,450 new airplanes, valued at $310 billion.
Approximately two-thirds of new airplanes will replace existing
airplanes, and the remaining one-third will respond to airline
growth in the region.