The global aviation industry will need to order over 21,000 new aircraft in the next 20 years to keep up with rising passenger numbers, lowering fares and world demand for air travel, according to the president of Airbus Middle East.
Habib Fekih told the World in 2007 forum that the business had seen 30% growth since the year 2000 due mainly to the rapid rise of emerging markets such as China, India and the Middle East countries. He said the industry would need to order 21,860 new aircraft between now and 2025, around 1,100 planes a year.
He added that the UAE would see 8% growth and would be fourth in line in the fastest growing airline sectors behind India, China and Eastern Europe.
“90% of new routes will use hubs such as Dubai and by 2030 one billion people will be living in urban areas meaning that they will use hubs. In the next three years the Middle East will need to take delivery of US$75bn worth of aircraft.”For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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