- Stock code:
- Creation date :
- Dave Calhoun
- Head office location:
- Chicago, United States
- Key product lines:
- Boeing 737, Boeing 747, Boeing 757, Boeing 767, Boeing 777, Boeing 787
- Type of company:
US aerospace giant Boeing has given its forecast for the Middle East market for the next 20 years, expecting thousands of planes to join the industry to meet passenger demand. The aircraft manufacturer also believes that Middle Eastern carriers are better positioned than many others to grow over the next two decades.
3,400 jets needed
The Middle East region will see huge expansion over the next 20 years, requiring around 3,400 jets to service rapidly growing passenger traffic as well as cargo demand, according to Boeing.
The aircraft manufacturer announced its estimate in the Boeing Commercial Market Outlook (CMO) 2022, a 20-year demand forecast, and said passenger traffic and the region’s commercial fleet are expected to more than double over the next two decades.
Boeing believes the Middle East region will need more than 3,000 planes over the next 20 years. Photo: Boeing
Randy Heisey, Boeing’s general manager of commercial marketing for the Middle East and Africa, and Russia and Central Asia regions, commented:
“The Middle East region, a popular connection point for international travelers and trade, is also growing as a point of departure and destination for business and leisure passengers. The region will continue to need a versatile fleet that meets the demands of airline and air cargo business models.
Most jets will fuel growth
Boeing said carriers in the region would need 2,980 new planes worth $765 billion to serve passengers and commerce. More than two-thirds of those deliveries will enable growth, while a third will replace older aircraft with more fuel-efficient models such as the Boeing 737 MAX, 787 Dreamliner and 777X.
He also pointed out that air cargo traffic from Middle Eastern carriers has continued to grow substantially in recent years, with two of the world’s top five cargo carriers by tonnage based in the region.
The aircraft manufacturer says most new aircraft in the Middle East will be added for business expansion. Photo: Boeing
Based on this, Boeing believes the Middle East freighter fleet is expected to reach 170 by 2041, more than double the pre-pandemic fleet.
The US aircraft maker’s forecast is not much different from that of its European rival, Airbus, which said last year that aircraft deliveries to Middle Eastern carriers would reach 3,020 by 2040, according to forecasts. Airbus (GMF) Global Market Forecast 2021 launched at Dubai Airshow. 2021.
Middle Eastern airlines well positioned for the future
Heisey said Middle East carrier traffic will grow 2.4 times over the next 20 years as airlines rapidly increase their origin and destination passengers and serve as key hubs for inter-regional connecting passengers. .
Boeing also said that over the next 20 years, air traffic growth in the Middle East is expected to grow by an average of 4% per year, compared to global growth of 3.8% per year and demand for commercial after-sales services, including maintenance. and reparations in the region are valued at $275 billion.
Boeing is confident that Middle Eastern carriers are well positioned for the future. Photo: Vincenzo Pace | single flight
In view of these projections, the aircraft manufacturer says that the region will need 202,000 new aeronautical personnel, including 53,000 pilots, 50,000 technicians and 99,000 cabin crew members, over the next 20 years.
What do you think of Boeing’s projections for the Middle East? Please leave your comments below.