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Thai Aviation Industry a Driving Force in the Economy, Says Kasikorn Research Centre
17th Oct 2016
In an analysis, Kasikorn Research Centre suggests that Thailand’s aviation industry has become a driving force in the economy, but still has a long way to go any many contestants to beat in order to become the preferred ASEAN hub.
Kasikorn Research Centre is a subsidiary of Kasikorn Bank.
According to the research centre, Thai airports averaged an annual growth of 15.2 per cent and positive trends were measured between 2012 and 2015 in all Thai airports managed by the Department of Civil Aviation and Airports of Thailand (AoT), except for Tak, Mae Sarian and Pattani. In other words, 31 airport.
The analysis said:
This growth corresponds with airlines enlarging their fleets and expanding routes across Southeast Asia.
The analysis also pointed out that Thai aviation should continue its growth, especially following the route expansion into Southeast Asia.
It said:
Thailand enjoys a strategic location in mainland ASEAN offering connections to Cambodia, Laos, Myanmar and Vietnam…if the country is successful in establishing itself as an aviation hub linking CLMV markets, Thailand aviation and economy will rapidly grow.
Other research bodies and agencies agree with Kasikorn Research Centre and add that Thailand has the airline networks, traffic and facilities to become a main hub in the Mekong region.
Airport Overcrowding and Capacity Issues Pose a Problem for Thai Aviation Industry Growth
The problem lies in the constraints Thailand’s airports are facing, both in terms of space and in terms of capacity. Most are reaching (some have already exceeded) their max passenger capacities and are (or have) becoming overcrowded.
According to the KRC, by 2022, the number of passenger embankments and dismemberments through six major Thai airports operated by AoT (Suvarnabhumi, Don Muang, Phuket, Chiang Mai, Chiang Rai and Hat Yai) and seven under the control of DCA will reach 238.4 million.
Also, large commercial aircraft manufacturers, such as Airbus and Boeing expect that passenger traffic within SE Asia will grow 6 per cent a year and will reach 2.36 billion by the year 2035. At the same time, the forecasted yearly growth in other regions is 4.8 per cent in average.
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