Middle East Commercial Jet Market To Double In Value To $1.4 Trillion By 2040 - Boeing

WASHINGTON (UrduPoint News / Sputnik - 21st October, 2021) The value of the middle East commercial jet and services market is going to double to more than $1.4 trillion by 2040, Boeing announced in its annual Commercial Market Outlook (CMO).

"Boeing said... airlines in the Middle East will require 3,000 new airplanes valued at $700 billion and aftermarket services such as maintenance and repair worth $740 billion, with the region positioned to capitalize on the recovery of regional and international travel and cargo demand," the CMO said on Wednesday.

To accommodate increased passenger and cargo traffic, airlines are predicted to grow their fleets to 3,530 jets. The region will continue to see robust wide-body commercial jet demand, with 1,570 deliveries supporting a growing network of international routes, the CMO said.

"The current single-aisle fleet of 660 airplanes is forecast to nearly triple to 1,750 jets. ... the region is estimated to require 223,000 new aviation personnel by 2040, including 54,000 pilots, 51,000 technicians and 91,000 cabin crew members," the CMO said.

Middle East passenger traffic and commercial fleets are projected to double over the 20-year forecast period, the CMO added.

More than two-thirds of airplane deliveries to the Middle East will be new aircraft, while one-third of deliveries will replace older planes with more fuel-efficient models, according to the CMO.