Boeing in its latest forecast said the Middle East will require an estimated 2,520 airplanes worth $450 billion over the next 20 years as the region's carriers continue to surpass global air traffic and capacity growth rates.

In its 'Current Market Outlook' Boeing has estimated that the Middle East's fleet of passenger airplanes will grow from 1,040 airplanes presently to a projected 2,710 airplanes, up 160 per cent.

Of this 34 per cent of the projected demand will be for airplanes to replace current aircraft, while 66 per cent will be part of fleet expansion plans as the region's airlines gear up for significant growth over the next two decades, said the aviation giant in its statement.
  
'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,' remarked Boeing Commercial Airplanes VP Marketing Randy Tinseth, who presented the outlook at the 2011 Dubai Air Show.

'The region's airlines with their forward thinking approach have become a competitive force globally,' he added

According to him, single- and twin-aisle airplanes will account for 90 per cent of the Middle East's new airplane deliveries over the 20-year period.

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 10 per cent is split between large airplanes such as the Boeing 747-8 Intercontinental and will account for 7 per cent 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 per cent.

'The collective capacity of three airlines, Emirates, Etihad and Qatar Airways has grown by an average of 23 per cent annually over the past decade and we expect this trend to continue well into the future,' observed Tinseth.

'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,' he stated.

'This visionary approach of investing in the future has allowed the region's airlines to stay ahead of the competition,' said the official.

As of September 14, 2011, Boeing has a backlog of 300 airplanes in the Middle East. Customers in the region count for a large share of Boeing's twin-aisle backlog, accounting for 26 per cent of 777s and 15 per cent of 787s on order.

Boeing currently has a total of 47 customers in the region that operate an estimated 1,200 flights per day on 425 Boeing airplanes.

'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,' Tinseth added.-TradeArabia News Service