Southeast Asian Airlines, led by LCCs, have built up large aircraft order backlogs as they look to tap into the growth potential of this subregion. Part one of this analysis looked at the broad trends that are boosting Southeast Asian travel demand, and it also examined overall order and delivery dynamics. Southeast Asia is projected to have the equal highest annual traffic growth rate of any subregion over the next 20 years, along with South Asia. Many of the Southeast Asian full-service carriers are overhauling their fleets with new deliveries, albeit at a slower pace than they had expected. The Asia Pacific region's largest LCCs are found in Southeast Asia.