November 4 - Boeing forecasts that Middle Eastern carriers will require 3,180 new aircraft over the next two decades, valued at an estimated USD730 billion.
70 percent of this demand will be driven by rapid fleet expansion. Single aisle airplanes, such as the 737 MAX will command the largest share of new deliveries, with around 1,410 craft required to replace older, less efficient models.
"Traffic growth in the Middle East continues to grow at a healthy rate and is expected to grow 6.2 percent annually during the next 20 years," said Randy Tinseth, vice president, marketing, Boeing Commercial Airplanes. "About 80 percent of the world's population lives within an eight-hour flight of the 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."
Boeing also forecasted strong long-term global demand for new aircraft, with 38,050 new units valued at USD5.6 trillion expected two enter the market over the net 20 years.