Boeing forecast: Middle East aircraft demand valued at $450 billion through 2030
Published: November 16, 2011
Boeing has forecast the Middle East region will need 2,520 aircraft worth $ 450 billion by 2030, as the region’s carriers continue to surpass global air traffic and capacity growth rates.
In its latest Current Market Outlook presented at the Dubai Airshow, Boeing estimates the Middle East’s fleet of passenger aircraft will grow from 1,040 to 2,710, an increase of 160%. The manufacturer said that 34% of the projected demand will be for replacement while 66% will be for expansion.
Boeing Commercial Airplanes VP-Marketing Randy Tinseth said, “The Middle East has seen an unprecedented growth in capacity over the past 10 years and every indication points to a further, significantly large increase over the next 20 years.”
Boeing said an estimated 1,160 single-aisle and 1,110 twin-aisle aircraft will make up 90% of the demand. The remaining 10% —or 180 aircraft—will be split between large aircraft such as the 747-8 and Airbus A380 (7%) and regional jets will account for the remaining 3%.
Tinseth said that Emirates, Etihad Airways and Qatar Airways are expected to be powerhouses for the growth.
“All three airlines base their growth strategies on the principle that newer, more efficient aircraft provide a competitive advantage over their rivals from Europe and Asia,” Tinseth said.