Mideast to need more than 1,400 planes by 2028
Two aircraft manufacturers, Airbus and Boeing estimate that the Middle East airlines would require anywhere between 1,436 (as per Airbus' forecast) and 1,710 (Boeing's forecast) aircraft over the next 20 years
"Airlines in this region will need about 1,710 new planes valued at $300 billion (Dh1.1 trillion) between now and 2028," said Randy Tinseth, Vice-President of Marketing, Boeing Commercial Airplanes, adding that Boeing forecasts about 150 freighters to be delivered to Middle East-domiciled carriers over the next 20 years.
John Leahy, Airbus' Chief Operating Officer, Customers, added: "At this particular junction, we see the market improving, not deteriorating. And six to nine months ago, people were talking about delaying or cancelling. I am not hearing any of that at this airshow."
In its forecast for next 20 years, Airbus predicted that carriers in the Middle East will require a total of 1,436 aircraft (passenger and freighter combined) valued at $248bn to satisfy above world average demand.
Globally, Boeing projects investments of $3.2trn for 29,000 new commercial aircraft to be delivered during the next 20 years.
Whereas, Airbus predicts the world airlines would need 25,000 new aircraft between 2009 and 2028.
While presenting their Global Market Forecast for the next 20 years, with only a slight difference in demand prediction both Airbus and Boeing executives said the Middle East is the next growth market.
"The Middle East along with Asia will lead the aviation sector into recovery. We see tremendous growth for the Middle East, and Middle East carriers are well-positioned to meet those growth requirements with the fleet capacity they have in the form of unfilled orders, or backlog," said Tinseth.
Echoing similar thoughts, Airbus' Leahy said: "The Middle East encompasses all aircraft segments and is a barometer for the rest of the world. The recovery begins here. As it gains pace, Airbus is ready to meet demand with the most eco-efficient and modern aircraft."
