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17-Nov-2009 11:59 AM

Boeing increases growth expectation for Middle East aviation industry; 1,710 new aircraft by 2028

Boeing increased its growth expectations for the Middle East aviation industry, with the manufacturer expecting Middle East carriers to require 1,710 new aircraft by 2028, at a value of USD300 billion, up from last year's estimate of approximately 1,550 aircraft valued at approximately USD260 million (Gulf News, 17-Nov-2009). Of those new aircraft, approximately half will be required by UAE-based airlines. The manufacturer added that it expects the Middle East fleet to double over the next 20 years, as GDP growth is expected to be over 3.8% in the region between now and 2028, with air travel growth to average 6.6%.