Boeing forecasts Middle East orders

DUBAI  Boeing forecasts airlines in the Middle East will require 3,180 new airplanes over the next 20 years, valued at an estimated USD730 billion.
About 70% of the demand will be driven by rapid fleet expansion in the region.
According to the Boeing Current Market Outlook (CMO), single-aisle airplanes such as the 737 MAX will command the largest share of new deliveries, with airlines in the region needing approximately 1,410 airplanes. These new airplanes will continue to stimulate growth for low-cost carriers and replace older, less-efficient airplanes.
“Traffic growth in the Middle East continues to grow at a healthy rate and is expected to grow 6.2% annually during the next 20 years,” said Boeing Commercial Airplanes vice president marketing, Randy Tinseth.

inside no 7“About 80% of the world’s population lives within an eight-hour flight of the Arabian Gulf. This geographic position, coupled with diverse business strategies and investment in infrastructure is allowing carriers in the Middle East to aggregate traffic at their hubs and offer one-stop service between many city pairs that would not otherwise enjoy such direct itineraries.”
Twin-aisle aircraft will account for a little under half of the region’s new airplane deliveries over the 20-year period, compared to 23% globally. This is demonstrated by the strong order book and deliveries for the 787 and 777.
Boeing has forecasted long-term global demand for 38,050 new airplanes, valued at USD5.6 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.

sourced:ttrweekly.com