Aircraft maker Boeing, based in the U.S. predicted that airlines across the Middle East would require 3,180 new planes during the next two decades as overall air traffic within the region continues its boom.
The largest maker of planes in the world based on delivery numbers, said the demand for the new aircraft would be driven by a rapid expansion in fleets from the Gulf carriers, it said the airline industry was expected to be worth more than $730 billion in 20 years.
A Boeing spokes person said that the growth of air traffic across the Middle East continues at a strong rate and is expected to grow by 6.2% annually, over the next two decades.
This statement was released prior to the Dubai Airshow that is biennial and scheduled for this weekend.
The demand from airline for airplanes that are single aisle or an aircraft known as narrow body, such as the Boeing 737 and the Airbus A320, are predicted to have the most growth during that period. Deliveries of new aircraft in that style are expected to reach more than 1,400 new planes said a Boeing spokesperson.
The smaller planes have become more popular as carriers that are low cost like Air Arabia continue to see a solid demand from customers and must replace their less efficient older airplanes.
The twin-aisle planes will be accounting for less than half the region’s new deliveries of aircraft over the upcoming period of 20 years compared to a rate of 23% globally.
Close to 80% of the population in the world lives within a flight of 8 hours from the Arabian Gulf. The geographic position, along with the diverse strategies in business and infrastructure investments is allowing Middle East carriers to aggregate air traffic at their own hubs and offer service that is just one stop.