TravelNewsAsia.com
Wed, 13 Feb 2019

Boeing Forecasts Middle East to Require US$745 Billion in Aviation Services Through 2037

Boeing has forecast that the Middle East will require US$745 billion in aviation services through 2037 to keep pace with growing passenger and freight traffic in the region.

The high value services market is largely driven by the demand for nearly 3,000 new commercial airplanes in the Middle East over the next twenty years, more than tripling the existing fleet.

Qatar Airways Airbus A350-900 MSN 83 reg: A7-ALS and Emirates Boeing 777-300ER reg: A6-EGL MSN 41072. Picture taken by Steven Howard of TravelNewsAsia.com at Changi Airport in Singapore. Click to enlarge.

 The growing fleet requires aviation services, including supply chain support (parts and parts logistics), maintenance and engineering services, and aircraft modification.

Boeing's Services Market Outlook (SMO) 2018-2037 – A Middle East Perspective forecasts a growing need for services that increase fleet productivity and reduce operating costs. Among the report's findings:

The Middle East will drive more than 8% of global demand for aviation services, representing $745 billion, and growing at a projected 4.6% annually; and

Nearly 218,000 new personnel – 60,000 pilots, 63,000 technicians, and 95,000 cabin crew – will be needed in the Middle East over the next 20 years.

"The Middle East is an unmatched location to connect the growing markets of Asia, Europe and Africa. This feeds the appetite in the region for new commercial airplanes and the services to operate and maintain those jets," Ihssane Mounir, senior vice president of Commercial Sales & Marketing for The Boeing Company.

Exclusive interviews: Future of Thailand's Cape & Kantary Hotels, Interview with Group Director - Travel Industry, Interview with Captain Lyn Evans About Cape Panwa Hotel Phuket Raceweek and Pictures of Cape Panwa Hotel Phuket Raceweek 2019.

See latest HD Video Interviews, Podcasts and other news regarding: Boeing, Outlook, Forecast.

Subscribe to our Latest Travel News Daily Email Free of Charge by simply entering your email address to the right. You can also receive the daily news service by WhatsApp, stay updated with our RSS Feed Free Travel News RSS Feed and even add the travel news to your website. Have questions? Please read our travel news FAQ.
     
Latest Travel News
Advertising
Advertising
Copyright © 1997-2019 TravelNewsAsia.com