Business | Aviation
Middle East aviation market outpaces global growth
The Middle East will need 869 aircraft, valued at $115.1 billion for the next 20 years, of which 85 per cent will be between 100 and 400 seats, according to Boeing's estimates.
- By Saifur Rahman, Staff Reporter
- Published: 00:00 November 22, 2005
The Middle East will need 869 aircraft, valued at $115.1 billion for the next 20 years, of which 85 per cent will be between 100 and 400 seats, according to Boeing's estimates.
"The Middle East's aviation industry is recording a above-average 5.5 per cent growth between 2005 and 2005, over the global average growth rate of 4.8 per cent," said Randy Baseler, Boeing's vice-president for marketing.
"Our forecast says, about 46 per cent of this will be of twin-aisle aircraft, 39 per cent of this will be of single aisle acquisition."
Twin-aisle airplanes will increase from 48 to 51 per cent of the total Middle East fleet during the forecast period.
"Liberalisation, as well as fragmentation and the new mid-size long-range airplanes such as the 787, the 777-200LR and 777-300ER will satisfy this need for intermediate twin-aisle jets, valued at $115 billion," he said.
"About 60 per cent of this will be in twin-aisle segment, only 1 per cent in the regional jet segment. The single-aisle and B747 and larger segments will split the rest at 18 and 21 per cent respectively."
Meanwhile, BAE Systems says, the Middle East air transport market could be set for an increase in demand for regional aircraft.
"About 15 airlines account for more than 90 per cent of the total scheduled capacity offered on intra-Middle Eastern services, with Saudi Arabian, Iran Air and Emirates accounting for nearly 50 per cent between them due to two large domestic markets (Saudia Arabia and Iran) and a large hub operation at Dubai," Steve Doughty, Vice President Sales of BAE Systems Regional Aircraft.
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