Boeing: Middle East airlines to invest $765 billion in new aircraft orders over the next 20 years
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Middle East airlines will more than double their fleets with nearly 2,980 new aircraft orders forecasted over the upcoming two decades, to meet the anticipated rise in passenger traffic, the US aircraft manufacturing giant, Boeing revealed in its Commercial Market Outlook (CMO), a forecast of 20-year demand.
Boeing officially cleared to resume 787 deliveries starting 10 August
“Middle Eastern carriers have successfully managed through challenges brought on by the pandemic by adjusting their business models and increasing the usage of freighters to maximise revenue. Looking ahead, the region’s fleet is forecasted to expand to 3,400 aeroplanes to serve fast-growing passenger traffic as well as cargo demand,” Boeing said.
On his part, Boeing’s managing director of Commercial Marketing for the Middle East and Africa, Russia and Central Asia Regions, Randy Heisey said that “the Middle East region, a popular connection point for international travellers and trade, is also growing as a starting point and destination for business and leisure passengers,” affirming that the region “will continue to require a versatile fleet that meets the demands of airline and air-cargo business models.”
According to the company, more than two-thirds of the forecasted deliveries will enable growth, while one-third will replace older aircraft with more fuel-efficient models including the B737 MAX, 787 Dreamliner and 777X.
The report also highlighted the substantial growth across the Middle East air freight market over recent years, noting that the Qatari flag carrier, Qatar Airways and the Dubai flagship airline, Emirates Airline primed the list of the world’s top five cargo carriers by tonnage.
Moreover, Boeing forecasted the Middle East freighter fleet size to reach 170 aircraft by 2041 – more than double the pre-pandemic fleet- to meet the anticipated surge in demand.
Single-aisle VS Wide-body
Wide-body aircraft will make up 43% of the orders valued at $765 billion, according to the American airframer, marking the highest proportion compared to other regions.
While the market demand for single-aisle aircraft in the Middle East is set to more than double to 1650 by 2041, the demand for wide-body passenger aircraft will continue to grow, with 1,290 projected aircraft deliveries to support an expanding international network.
The company also forecasted passenger traffic to grow by 4% annually, driving a parallel demand for 202,000 new aviation personnel, including 53,000 pilots, 50,000 technicians and 99,000 cabin crew members in the next 20 years.
The demand for aftermarket commercial services including maintenance and repair is set to reach $275 billion by 2041.
Source: Aviation Business