Boeing Forecasts New Airplane Market for Middle East, Valued at $730 Billion

Boeing forecasts the Middle East will need 1,770 single-aisle aircraft

Boeing forecasts the Middle East will need 1,770 single-aisle aircraft

Boeing reports that over the next 20 years the Middle East will see significant demand for commercial airline pilots, technicians and cabin crew, accounting for 10 percent of the overall global need for pilots and technicians and 12 percent of cabin crew.

Boeing has forecast airlines in the Middle East will need 3,350 new airplanes over the next 20 years, valued at an estimated $730 billion.

"The fact that 85% 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", he added. While anticipated overall global demand for technicians dropped 4.6 percent from past year, anticipated demand for technicians in the Middle East remained steady at 66,000.

Due to the region's proximity to the rest of the world strong long-term demand for twin-aisle airplanes, which had been expected to account for nearly half of new airplanes delivered to the Middle East and more than 70% of the total sales value to the region at $520bn, was reinforced after Emirates announced a commitment to purchase 40 787-10 Dreamliners in a deal valued at $15.1bn.

According to Boeing, the long term demand for widebody aircraft was reinforced by Emirates' commitment for 40 787-10 aircraft.

In the Middle East, Boeing also operates Global Services, their solution providing arm, in hopes that much of the upcoming demand can be won through not just aircraft deals, but service contracts as well. The demand for single aisle aircraft is fueled primarily by the growth of low-priced carriers in the region.

Meanwhile, around the rest of the world, Boeing forecasted a long-term demand for 41,030 new airplanes, valued at $6.1trn.

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