Boeing predicts high ME growth

Manufacturing giant Boeing's latest market projections see the Middle East taking delivery of around 1580 new aircraft over the next 20 years.

Approximately 60% of these aircraft will cover growing regional demand, according to Boeing, with the rest set to replace those airframes that are being taken out of service.

"Air travel has grown faster in the Middle East than in any other world region, averaging more than 12% over the last five years," said Drew Magill, marketing director for Boeing Commercial Airplanes.

"Today, Boeing has 326 airplanes in service in the Middle East region, with 43 airline customers, and we expect continued robust air traffic growth that will exceed the world's average."

Boeing's forecast was unveiled just prior to the AVEX Airshow and Aviation Exhibition in Sharm El Sheikh. The general outlook indicates that strong underlying fundamentals, including economic growth, world trade, aviation market liberalisation and new aircraft capabilities, will all drive the need for new planes.

On a worldwide basis, Boeing sees approximately US$3.2 billion being invested in the jet market during the next 20 years, with around 29,400 aircraft being delivered.

This long-term projection allows the manufacturer to work more closely with airlines in terms of supporting their fleet plans in conjunction with their expected economic growth, and also helps Boeing strategise the development of new models.

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