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Friday, June 9, 2023

Boeing predicts that the Middle East will need almost 3,000 commercial aircraft

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Boeing predicts that over the next two decades, the region’s passenger volume and the commercial fleet will more than double as air travel and tourism continue to fuel regional economic growth. In the 2022 Boeing Commercial Market Outlook (CMO), a 20-year demand prediction, the corporation published its estimate.

Middle Eastern carriers have overcome difficulties caused by the pandemic by changing their business strategies and using more freighters to increase income.

According to Boeing, the region’s fleet will eventually grow to 3,400 aircraft to accommodate the region’s rapidly expanding passenger and cargo demand.

“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,” said Randy Heisey, Boeing Managing Director of Commercial Marketing for the Middle East and Africa and Russia and Central Asia Regions. “The region will continue to require a versatile fleet that meets the demands of airline and air-cargo business models.”

To serve passengers and trade, Middle Eastern airlines will need 2,980 new aircraft valued at US$765 billion.

While one-third of these deliveries will replace older aircraft with more fuel-efficient models like the Boeing 737 MAX, 787 Dreamliner, and 777X, more than two-thirds of these deliveries will support expansion.

Notably, the amount of air cargo carried by Middle Eastern airlines has increased significantly in recent years; two of the top five cargo carriers in the world by tonnage are based in the area.

The Middle East freighter fleet is anticipated to more than double from its pre-pandemic level to 170 by 2041 in order to meet future demand.

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