Understanding the Nuances of the Southeast Asian Aviation Market
The Southeast Asia (SEA) market plays a prominent role in the global aviation market because of its geographic significance in connecting the world. Compared to other regions, It has distinct characteristics, challenges, and opportunities due to historical, geographical, economic, and cultural factors. LetÕs dive into this unique market, to better understand it and how to conduct successful business in it. Market Size The long-developed and historically significant European market is larger than the Southeast Asian market, but the SEA market is growing rapidly. According to Mordor Intelligence, the Southeast Asian market size (including commercial, military and general aviation) is estimated at USD 34.40 billion in 2023 and is expected to reach USD 43.57 billion by 2028. In comparison, the European aviation market size is estimated at USD 65.85 billion in 2023 and is expected to reach USD 76.26 billion by 2028. Although the European aviation market is nearly twice in size, the...