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Boeing Projects $350
Billion Market For Airplanes In The Middle East By Mike Mitchell |
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November 15, 2011 - Boeing forecasts that airlines in
the Middle East will need an estimated 2,520 airplanes
worth $450 billion by 2030. The forecast comes as the
region's carriers continue to surpass global air traffic
and capacity growth rates.
Boeing estimates that the Middle East's fleet of
passenger airplanes will grow from a current fleet of
1,040 airplanes to a projected 2,710 airplanes, an
increase of 160 percent. 34 percent of the projected demand will be for airplanes to replace current aircraft, while 66 percent will be part of fleet expansion plans as the region's airlines gear up for significant growth over the next two decades. |
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"The
Middle East has seen an unprecedented growth in capacity over
the past 10 years and every indication points to a further,
significantly large increase over the next 20 years," said
Boeing Commercial Airplanes Vice President of Marketing Randy
Tinseth, who presented Boeing's Current Market Outlook at the
2011 Dubai Air Show. "The region's airlines with their forward
thinking approach have become a competitive force globally."
Single-
and twin-aisle airplanes will account for 90 percent of the
Middle East's new airplane deliveries over the 20-year period,
according to the Boeing forecast. An estimated 1,160
single-aisle jets, such as the Boeing 737 MAX, and 1,110
twin-aisle airplanes, such as the Boeing 777 and 787 Dreamliner,
are expected to be delivered to the region during this time.
The
remaining ten percent is split between large airplanes such as
the Boeing 747-8 Intercontinental and will account for 7 percent
of projected demand, with an estimated 180 airplanes to be
delivered to airlines in the Middle East. Regional jets will
account for the remaining 3 percent.
"The collective capacity of three airlines, Emirates Airline, Etihad Airways and Qatar Airways has grown by an average of 23 percent annually over the past decade and we expect this trend to continue well into the future. All three airlines base their growth strategies on the principle that newer, more efficient airplanes will provide a competitive advantage over their rivals from Europe and Asia," Tinseth said. "This visionary approach of investing in the future has allowed the region's airlines to stay ahead of the competition. With a range of airplanes that fulfill the region's requirement for capacity expansion and improved operating efficiencies, Boeing is well positioned to meet the region's needs |