Mideast airlines seen to require 2,980 new airplanes worth $765bn over 20 years

Mideast airlines seen to require 2,980 new airplanes worth $765bn over 20 years

Middle East airlines will require 2,980 new airplanes valued at $765bn to serve passengers and trade over the next 20 years, according to Randy Heisey, Boeing managing director of Commercial Marketing for the Middle East, Africa, and Russia and Central Asia Regions.

More than two-thirds of these deliveries will enable growth, while one-third will replace older airplanes with more fuel-efficient models such as the Boeing 737 MAX, 787 Dreamliner and 777X, Heisey told a Middle East media event yesterday.

In the widebody segment, Boeing forecasts a regional demand for 1,290 new passenger airplanes by 2041.  

Single-aisle airplanes will continue to be the largest market segment with operators projected to need 1,580 new airplanes in the next 20 years. The growth of single-aisle fleet is largely due to the rapid growth of low-cost carriers across the region, he noted.

Air cargo demand is expected to grow 8% by 2041. The Middle East freighter fleet is expected to reach 170 aircraft of which 70 will be new deliveries.

Over the next 20 years, airline traffic growth in the Middle East is projected to increase by an average of 4% per year (in comparison to the global growth of 3.8% per year). 

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