MidEast aviation services to be worth $745 billion by 2037

A new report from Boeing predicts that the region will need 60,000 pilots and 95,000 cabin crew
MidEast aviation services to be worth $745 billion by 2037
By Staff writer
Mon 11 Feb 2019 02:31 PM

Boeing projects the Middle East will need $745 billion in aviation services through 2037 to keep pace with growing passenger demand and freight traffic in the region, according to a new report.

According to Boeing, the high value services market will largely be driven by demand for nearly 3,000 new commercial airplanes in the Middle East over the next 20 years – a figure that represents a tripling of the existing fleet.

The report also found that the Middle East will drive more than 8 percent of global demand for aviation services, which will grow at a projected 4.6 percent annually.

Over the same time period, the Middle East will require 218,000 new personnel – 60,000 pilots, 63,000 technicians and 95,000 cabin crew.

“The Middle East is an unmatched location to connect the growing markets of Asia, Europe and Africa,” said Ihssane Mounir, the senior vice president of commercial sales and marketing for Boeing. “This feeds the appetite in the region for new commercial airplanes and the services to operate and maintain those jets.”

Headquartered in Dallas, Boeing Global Services continues to outpace the aerospace services market growth of 3.5 percent.

For all the latest business 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.

Subscribe to our Newsletter

Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.