The Middle Eastern region’s aircraft fleet is anticipated to more than double by 2041, according to Boeing’s study on the commercial market outlook for 2022.
The demand for business fleets and passenger traffic in the area was anticipated over a 20-year period in the paper.
The Middle East’s economic growth is still being driven by air travel and tourism, according to an American aircraft maker. Because of this, according to Boeing, the Middle Eastern fleet will increase to 3,400 aircraft in order to meet the region’s rapidly expanding passenger and cargo demand.
“The Middle East region, a popular connection point for international travelers and trade, is also growing as a starting point and destination for business and leisure passengers,” Randy Heisey, Boeing managing director of commercial marketing for the Middle East and Africa, and Russia and Central Asia Regions said in a statement.
Heisey added: “The region will continue to require a versatile fleet that meets the demands of airline and air-cargo business models.”
According to the planemaker, Middle Eastern airlines will need 2,980 new aircraft worth $765 billion to serve travelers and cargo. While one-third of these deliveries will replace older aircraft with more fuel-efficient models like the Boeing 737 MAX, 787 Dreamliner, and 777X, more than two-thirds of these deliveries will support expansion.
It is obvious that Middle Eastern carriers are still growing and expanding. For example, Emirates has spent more than $2 billion to improve the in-flight traveler experience. This involves a sizable fleet conversion project with intentions to modernize 120 Airbus A380 and Boeing 777 aircraft cabin interiors.
To compete with major Middle Eastern airlines like Emirates, Etihad, and Qatar Airways, Saudi Arabia has invested more than $30 billion in a new international airline.
Boeing claims that Middle Eastern airlines overcame pandemic difficulties by changing their business strategies and using more freighters to increase income.
You can view the complete commercial market outlook report here.