Boeing has forecast airlines in the Middle East will require 3,180 new airplanes over the next 20 years, valued at an estimated $730 billion.
Some 70 per cent of this demand is expected to be driven by rapid fleet expansion in the region.
According to the Boeing Current Market Outlook, single-aisle airplanes will command the largest share of new deliveries, with airlines in the region needing approximately 1,410 airplanes.
These new airplanes will continue to stimulate growth for low-cost carriers and replace older, less-efficient airplanes.
“Traffic growth in the Middle East continues to grow at a healthy rate and is expected to grow 6.2 per cent annually during the next 20 years,” said Randy Tinseth, vice president, marketing, Boeing Commercial Airplanes.
“About 80 per cent of the world’s population lives within an eight-hour flight of the Arabian Gulf.
“This geographic position, coupled with diverse business strategies and investment in infrastructure is allowing carriers in the Middle East to aggregate traffic at their hubs and offer one-stop service between many city pairs that would not otherwise enjoy such direct itineraries.”
Twin-aisle aircraft will account for a little under half of the region’s new airplane deliveries over the 20-year period, compared to 23 per cent globally.
Boeing’s Commercial Aviation Services is a leading provider of aftermarket services in the Middle East, supporting airlines throughout the lifecycle of their fleets from airplane introduction to retirement.