Dubai: Passenger traffic to, from, and within the Middle East is expected to grow at a 5.9 per cent annually until 2036, outpacing the global average of 4.4 per cent, according to research from Airbus.
In its Global Market Forecast, aircraft manufacturer Airbus said the highest growth in traffic is expected to be on routes to Latin America, with a growth rate of 8.5 per cent per year to 2036. Traffic between traditional markets will, meanwhile, grow at a steady pace.
Airbus also said the fleet size of airlines in the Middle East was expected to more than double to 3,320 aircraft from 1,250 aircraft over the next two decades.
On top of those 2,070 new aircraft that will drive growth, Middle Eastern carriers will also need 520 aircraft for the replacement of older generation aircraft, with 730 aircraft expected to remain in service over the period.
The demand will include 1,080 twin-aisle aircraft, another 1,080 single-aisle aircraft, and 430 very large aircraft, Airbus said.
The research said future demand for the Middle East’s fleet is valued at $600 billion (Dh2.20 trillion), from a total market value of $5.3 trillion. Current orders from Middle Eastern carriers stand at 1,319 aircraft.
Between 2017 and 2036, airlines in the Asia-Pacific region will account for the vast majority (41 per cent) of new aircraft deliveries, and more than twice as much as the second biggest market for new deliveries; Europe (20 per cent of new deliveries globally).
Meanwhile, the Middle East will account for 7 per cent of new deliveries, while North America will account for 16 per cent.
Airbus described global air transport as a “growth market” that has seen 60 per cent growth over the last 10 years. It pointed that there will be demand for 34,900 new aircraft by 2036 — 34,170 of which are passenger aircraft, and 730 of which are freighters.
