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Boeing sees Middle East market reaching USD 550bn over 20 years

US airframer Boeing (NYSE: BA) said it forecasts that airlines in the Middle East will require 2,610 new airplanes over the next 20 years worth an estimated USD 550bn.

While one-third of that demand 900 airplanes will replace current fleets, 66% of the demand is expected to be driven by the rapid fleet expansion in the region.

According to the Boeing Current Market Outlook (CMO), long-range, twin-aisle airplanes such as the Boeing 777 and 787 Dreamliner will continue to dominate the Middle East´s order books, reflecting the global network priorities and emerging alliances and partnerships of the region´s carriers.

According to the Boeing forecast, twin-aisle aircraft will account for more than half of the region´s new airplane deliveries over the 20-year period as compared to 24% globally.

Single-aisle airplanes, such as the Boeing 737, will make up 47% of regional deliveries through to 2032, while large airplanes such as the Boeing 747 will account for 10% of forecasted demand. Regional jets account for the remaining 1% of the demand.

Globally, Boeing has forecast a long-term demand for 35,280 new airplanes, valued at USD 4.8tn.

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