There is strong demand for U.S. energy, environmental technologies, and infrastructure sector exports across the region.
According to the International Energy Agency, the Indo-Pacific will account for approximately 60 percent of the total global increase in primary energy demand by 2040. In developing countries alone, according to the Asian Development Bank, this will require over $1 trillion in energy infrastructure investment annually.
In July 2018, the U.S. government established Asia EDGE (Enhancing Development and Growth Through Energy) and the Infrastructure Transaction and Assistance Network (ITAN). Asia EDGE is a U.S. whole-of-government effort to grow sustainable and secure energy markets throughout the Indo-Pacific. ITAN coordinates U.S. government assistance to support infrastructure projects abroad.
Global growth in the commercial aerospace industry will be intrinsically tied to Indo-Pacific markets over the next two decades.
Boeing anticipates the region will account for 41 percent of all new passenger airplane deliveries over the next twenty years. The diversity of the markets, some developed, some primed for rapid growth, and some requiring significant infrastructure investments represent many opportunities for U.S businesses. From commercial aircraft, air traffic management systems, and airport development the region offers opportunities for significant export growth.
Additionally, among the 10 largest standing armies in the world, 7 reside in the Indo-Pacific; and 6 countries in the region possess nuclear weapons. U.S. Indo-Pacific Command covers 51 percent of the world. Spurring greater U.S. exporter opportunities are several governments that have or are planning large defense equipment upgrades and the United States’ continued commitment to existing partnerships while expanding and deepening new partnerships.
Asia has significant opportunities for U.S. exporters of cybersecurity technology and related services, data center and storage hardware and services, and telecommunications technology and the need is only increasing.
ASEAN countries have strong smart city visions. Working through the ASEAN Smart Cities Network and related U.S.-ASEAN Smart Cities Partnership, we are connecting U.S. exporters of related technology, equipment, and services to help these networks and visions come true in Asia.
This sector often comes with complex foreign regulations and standards. Commercial Officers are in markets throughout the region that can help U.S. companies grow their exports through global eCommerce channels, gain access to the global online marketplace, and navigate applicable policy and regulatory issues.
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According to a Bain & Company report, the Indo-Pacific will represent 40% of growth in global healthcare spending.
There is a high demand for medical devices especially for aging populations in developed markets like Japan and South Korea. At the same time, markets like Malaysia are looking at hospital modernizations and healthcare information technology solutions.