Boeing: Middle East to require 3350 new aircraft worth USD730 billion over next 20 years
Boeing forecast (13-Nov-2017) the Middle East to require 3350 new aircraft worth USD730 billion over the next 20 years. Boeing Commercial Airplanes VP of marketing Randy Tinseth forecast Middle East traffic growth of 5.6% p/a over the next 20 years. Other forecast highlights include:
- Widebody aircraft: Make up nearly 50% of new aircraft in the Middle East, and more than 70% of value at USD520 billion;
- Narrowbody aircraft: More than 50% of total deliveries. Operators in the region will need 1770 narrowbody aircraft valued at USD190 billion, driven by the growth of LCCs.
"The fact that 85 per cent of the world's population lives within an eight-hour flight of the Arabian Gulf, coupled with robust business models and investment in infrastructure, allows carriers in the Middle East to channel traffic through their hubs and offer one-stop service between many cities", Mr Tinseth noted. Globally, Boeing forecast long term demand for 41,030 new aircraft valued at USD6.1 trillion. [more - original PR]