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US aerospace giant Boeing gave its forecast for the Middle East market for the next 20 years, expecting thousands of aircraft to join the industry to meet passenger demand. The planemaker also believes that Middle East carriers are better placed than many others to expand over the next two decades.
3,400 jets needed
The Middle East region will see enormous expansion over the next 20 years, requiring a fleet of around 3,400 jets to serve fast-growing passenger traffic as well as cargo demand, according to Boeing.
The aircraft manufacturer announced its estimate in the 2022 Boeing Commercial Market Outlook (CMO), a forecast of 20-year demand, and said that the region’s passenger traffic and commercial fleet are projected to more than double over the next two decades.
Boeing thinks the Middle East region will need more than 3,000 airplanes over the next 20 years. Photo: Boeing
Randy Heisey, Boeing managing director 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 starting point and destination for business and leisure passengers. The region will continue to require a versatile fleet that meets the demands of airline and air-cargo business models.”
Most jets will fuel growth
Boeing said the region’s airlines would require 2,980 new airplanes valued at $765 billion to serve passengers and trade. More than two-thirds of these deliveries will enable growth, while one-third will replace older planes with more fuel-efficient models such as the Boeing 737 MAX, 787 Dreamliner, and 777X.
It also highlighted that air cargo traffic flown by Middle East carriers has continued its substantial growth in recent years, with two of the world’s top five cargo carriers by tonnage based in the region. Based on this, Boeing projects the Middle East cargo fleet to reach 170 by 2041, more than doubling the pre-pandemic fleet.
The planemaker says that most new aircraft in the Middle East will be added for business expansion. Photo: Boeing
The US planemaker’s predictions aren’t very different from its European rival, Airbus, which last year said that aircraft deliveries to Middle East carriers will touch 3,020 by 2040, according to the 2021 Airbus Global Market Forecast (GMF) launched at the Dubai Airshow 2021.
Middle East airlines are well placed for future
Heisey said that traffic for Middle East carriers would multiply 2.4 times over the next 20 years, with airlines rapidly growing their origin and destination passengers and serving as key hubs for inter-region connecting passengers.
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Boeing also said that over the next 20 years, airline traffic growth in the Middle East is projected to increase by an average of 4% per year, compared to the global growth of 3.8% per year and the demand for aftermarket commercial services, including maintenance and repair in the region is valued at $275 billion.
Boeing is confident that Middle East carriers are well-placed for the future. Photo: Vincenzo Pace | Simple Flying
Looking at these projections, the plane manufacturer says that the region will require 202,000 new aviation personnel, including 53,000 pilots, 50,000 technicians, and 99,000 cabin crew members, in the next 20 years.
What do you make of Boeing’s projections for the Middle East? Please leave your comments below.