Boeing forecasts strong growth in Middle East
Oct. 20, 2011, Chicago, Il. - Boeing forecasts that Middle Eastern airlines will require 2,340 aircraft by 2029 with a total value of $390 billion as the regional industry expands.
Boeing also estimates that the regional aviation industry will grow at an average of 7.1 per cent a year for the next 20 years.
About 43 per cent of the expected aircraft deliveries will be wide-bodies, confirming forecasts that the Middle East will play an increasing role in global aviation (long-haul), according to saudigazette.com.
Factors affecting the demand include tourism, government spending, low-cost airlines and deregulation. Massive expansion programs were initiated for both airport infrastructure and fleet expansion.