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Boeing 20-year forecast values Middle East commercial jet and services market at US$1.4 trillion
October 21st 2021
Boeing has predicted the Middle East will need 3,000 new aircraft, valued at US$700 billion, as the Gulf’s commercial fleet more than doubles in the next 20 years. Read More » The U.S. manufacturer said projected wide-body deliveries into the Middle East in the next two decades will be the highest proportion of any region, at 44%. Boeing’s 2021 Commerical Market Outlook (CMO) forecasts that more than two-thirds of aircraft delivered to the region will be for growth and the remainder for replacement of older aircraft. Airlines are expected to expand their fleets for the period to 3,530 jets of which 1,570 will be wide-bodies. In the same period, the current single-aisle fleet of 600 aircraft will more than triple to 1,750 jets. Aftermarket commercial services opportunities worth US$740 billion will include maintenance, repair and parts supply as well as operations optimization. The growth will require 223,000 new aviation personnel by 2040, including 54,000 pilots. “The Middle East’s role as a global connecting hub continues to be important for developing markets to and from Southeast Asia, China and Africa,” said Boeing’s managing director commercial marketing for the Middle East, Randy Heisey.
