A decade ago, when the aerospace industry gathered in Singapore for Asia’s biggest air show, the region was playing a familiar role—leading international air travel out of a financial trough and giving manufacturers’ order books a leg up. Thanks to robust economies and 35 years of a generally peaceful political climate, Asia is still an engine of growth for aviation. Back then, China was the hottest market and Japan the largest. Today, they have company: The 300 million consumers in ...

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