Mideast Aviation Growth Will Require $745Bln In Services By 2037 - Boeing
The growth of commercial airline traffic in the Middle East will require an aviation services market valued at $745 million between now and 2037, according to a forecast by Boeing that was announced at the MRO Middle East aviation trade show in Dubai on Monday
"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," Boeing said in a press release explaining the forecast.
Boeing explained that the growing fleet will require additional aviation services.
"[The additional services include] supply chain support (parts and parts logistics), maintenance and engineering services, and aircraft modification," Boeing said in the release.
The forecast predicted that Middle East business will drive more than 8 percent of global demand for aviation services, representing $745 billion by 2037, and growing at a projected 4.6 percent annually.
In addition, 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 forecast said.