Middle East needs over 1,920 aircraft worth 347 bln USD

Carriers in the Middle East will require 1,921 new passenger and freighter aircraft (above 100 seats) in the next 20 years, which valued at 347.4 billion U.S. dollars, Airbus' latest Global Market forecast said Monday. Among these, 1,882 are passenger aircraft worth about 336.3 billion dollars and 39 are freighter aircraft worth 11.1 billion dollars. The strong growth will result in the almost trebling of the regions fleet from over 800 aircraft today to some 2,260 by 2030, according to the forecast released at the on-going Dubai International Airshow. The main drivers of the continued strong demand for new aircraft include fleet expansion and replacement, greater urbanization, an increasing number of mega cities and the overall ongoing expansion of the region as a geographical hub and tourist destination, the forecast said. These factors are driving an above average passenger demand growth rate of 6.4 percent per year which is well above the world average of 4.8 percent over the next 20 years. "The Middle East remains one of the world's most robust aviation regions and this is confirmed by a 200 percent increase in inter-regional passenger traffic over the last 10 years," said John Leahy, Airbus Chief Operating Officer. "The region is uniquely placed with more than 85 percent of the world's population within reach of a direct flight, making the Middle East a fertile market place for our eco-efficient aircraft today and beyond," he said. Middle Eastern carriers are increasingly choosing larger aircraft due to the growing number of global hubs in the region, and particularly within aircraft families for the reduced training and maintenance costs, reduced fuel burn and environmental benefits they bring. The region's new passenger aircraft requirement includes 779 single-aisle aircraft, 801 twin-aisle aircraft and 302 very large aircraft (VLA). Of these 1,442 aircraft will be necessary for growth and 440 for replacing aging aircraft with newer more eco- efficient models. In the freighter aircraft category, there will be a demand for 13 twin aisle aircraft and 26 VLA aircraft, according to the forecast.