Boeing estimates that because of this huge increase in demand, 12,820 new planes will need to be added to the existing fleet, Umar said. The set of planes would be valued at $1.9 trillion.
In 2012, the fleet consisted of about 5,090 plans in the Asia-Pacific region. Boeing estimates that by 2032, the count will be up 14,750.
Boeing said that roughly 69% of the 12,820 planes needed, will be Boeing 737s. Currently, the company produces 42 of these plans per month, which is up from the 38 planes per month last year.
Umar added that by 2017, the company plans to be making 47 Boeing 737s per month to meet demand for the region.
Shares were higher by about 1% near the open on Monday, but have since slumped to nearly flat on the session, Umar concluded.
-- Written by Bret Kenwell in Petoskey, Mich.