Airlines need $160bn worth of planes to meet demand

Boeing had been in talks with the region's leading airlines, but has yet to secure any confirmations. (Getty Images)

Middle East airlines will need at least 1,110 airplanes by 2027, a senior Boeing executive said on Tuesday.

Drew Magill, director of marketing for Boeing Commercial Airplanes, told delegates at the Air Finance Conference in Dubai that some $160 billion worth of aircraft are required to meet increasing demand.

When speaking to reporters, Magill said 670 of the total would help meet expansion requirements, while the remaining 430 will replace older aircraft.

Meanwhile, airlines globally will have to buy or lease up to 28,600 airplanes during the same period, according to Magill.

Middle East carriers looking to bolster their fleet will target 200 to 400 seater twin-aisle aircraft, such as Boeing 777s and 787s, in the coming years, he said.

Magill added that the 787 has already secured several orders, with 48 customers from across the globe agreeing to buy or lease a combined 706 planes.

Airbus' A340, A350 and A380 models, are also expected to prove popular, he said.

During the conference, Magill revealed Boeing had been in talks with the region's leading airlines, including Emirates, about aircraft orders. But despite interest, the aircraft manufacturer has yet to secure any confirmations.

It's thought that Emirates' management is still deliberating over whether to order Boeing's 787 or Airbus' A350. A decision is expected at the Dubai Air Show in November.

Aside from twin-aisle aircraft, the region's carriers will also increase their fleets with more single-aisle planes. Magill believes the aircraft, which can carry between 90 and 200 people, will account for 39% of the new airliners bought by Middle East carriers in the coming years.

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