By AVB Staff
New forecast by plane manufacturer Embraer says region will need 530 new 70-130 seat aircraft over next 20 years
Embraer Commercial Aviation forecasts that airlines in Africa and the Middle East will need 530 new 70-130 seat aircraft, valued at $25 billion at list prices, over the next 20 years.
The plane maker estimated that 65 percent of the total new deliveries will be added to support market demand growth while 35 percent will replace aging retiring aircraft.
“The 70 to 130-seat jets will play a key role to support the intra-regional development in Africa and the Middle East, not only for its ability to explore new markets, but also because of the possibility to improve load factors with greater flexibility,” said Paulo Cesar Silva, Embraer Commercial Aviation president and CEO.
According to Embraer, 17 of the world’s top 30 fastest growing countries in 2014 will be in the region. It predicts that air transport in Africa and the Middle East will steadily grow 5.3 percent and 7.1 percent per annum over the next 20 years, respectively - above the world average of 4.8 percent, more than tripling the air traffic to, from, and within the region.