Boeing forecasts $550 Billion market in Middle East for new airplanes
DUBAI – Boeing forecasts that airlines in the Middle East will require 2,610 new airplanes over the next 20 years, worth an estimated $550 billion. While one-third of that demand – 900 airplanes – will replace today’s fleets, 66 percent of the demand is expected to be driven by the rapid fleet expansion in the region.
According to the Boeing Current Market Outlook (CMO), 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 percent globally. Single-aisle airplanes, such as the Boeing 737, will make up 47 percent of regional deliveries through to 2032, while large airplanes such as the Boeing 747 will account for 10 percent of forecasted demand. Regional jets account for the remaining 1 percent 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.
Similarly, Boeing forecasts that Southeast Asia airlines will need 1,930 airplanes worth $290 billion over the next 20 years. Strong demand for new airplanes will lead to a world fleet with significantly improved environmental performance, according to The Boeing Company’s updated annual forecast for the commercial airplane market.
Air travel within Southeast Asia will grow 6 percent during this period, above the world average growth of 5 percent — compared to China’s 8.8 percent forecasted domestic growth rate.
Deliveries to airlines in Southeast Asia will represent approximately 10 percent of the deliveries measured by dollar value worldwide between 2006 and 2026.-Boeing
