Airlines in the Middle East will require 2,610 new airplanes over the next 20 years, worth an estimated $550 billion, said Boeing in a report, adding that one-third of that demand will replace today’s fleets.
Sixty-six per cent of the demand is expected to be driven by the rapid fleet expansion in the region, the jet manufacturer said in its Current Market Outlook (CMO).
According to the report, long-range, twin-aisle airplanes - such as the Boeing 777 and 787 Dreamliner - will continue to dominate the Middle East’s order books, reflecting the global network priorities and emerging alliances and partnerships of the region’s carriers. According to the Boeing forecast, twin-aisle aircraft will account for more than half of the region’s new airplane deliveries over the 20-year period - as compared to 24 per cent globally.
Single-aisle airplanes, such as the Boeing 737, will make up 47 per cent of regional deliveries through to 2032, while large airplanes such as the Boeing 747 will account for 10 per cent of forecasted demand. Regional jets account for the remaining 1 per cent of the demand.
Globally, Boeing has forecast a long-term demand for 35,280 new airplanes, valued at $4.8 trillion. These new airplanes will replace older, less efficient airplanes, benefiting airlines and passengers and stimulating growth in emerging markets and innovation in airline business models.
To meet the growing demand for new airplanes, Boeing has increased production of its popular 737, 777 and 787 airplane families, the US-based airplane maker said in the report.