Middle East fleet to grow 150% by 2029: Boeing

Boeing announced airlines in the Middle East region will spend USD390 billion by 2029 to acquire 2340 new aircraft in the 20 years, an increase of 150% on the region's current fleet size (Khaleej Times, 09-May-2011). Boeing also expects growth in the region's air transport market to outpace economic growth by 4% p/a over the period. VP Marketing Randy Tinseth stated Middle East airlines have been consistently leading the rest of the world in traffic growth over the past two years and there is every indication that this trend will continue. Twin-aisle aircraft are expected to account for 43% of the region's deliveries, compared with 25% globally, with single-aisle aircraft to account for 47% of the region's demand.

Boeing: "We are at the beginning of an aviation upside cycle. There is all indications that the Middle East will lead the world in traffic growth in future," said Randy Tinseth, Boeing Commercial Airplanes Vice-President of Marketing. Source: Khaleej Times, 09-May-2011.

Boeing: "While we expect the global fleet size to double by 2029, Middle Eastern airlines are projected to expand their fleets by more than 150% during the same period. This is a sure indicator that airlines in the region are planning for growth, while also modernising their fleets to improve operating efficiencies. Their well-coordinated growth and investment plans are already delivering results and Gulf airlines currently have an estimated widebody order backlog of almost 140,000 seats, which is significantly higher than most other regions in the world." Randy Tinseth, VP Marketing. Source: Khaleej Times, 09-May-2011.