Middle East airlines are expected to continue to lead the global aviation industry for growth — that was the word at the recent Dubai Airshow. According to the CEO of Airbus, Tom Enders, "The Middle East is still the hub of aviation gorwth." Randy Tinseth, commercial marketing vice president for Boeing Co., said "we see tremendous growth for the Middle East."
Boeing anticipates Mideast passenger-type jet aircraft demand to total over 1,700 new aircraft — valued at approximately USD $300 billion over the next 20 years. Airbus estimates that the Middle East will need over 1,400 new aircraft worth USD $243 over the same period.
Mideast passenger traffic is expected to grow at an annual rate of nearly 5% a year for the next 20 years. In addition, Boeing and Airbus agree they will also sell and deliver 150 cargo aircraft to airlines and air cargo companies in the Middle East in that same period. Airbus antipates that in less than 20 years, Middle East airline's passenger fleets will have nearly tripled in number, to approximately 1,700 aircraft. At the beginning of this year, airlines in the region had 586 aircraft.
Airbus has just signed an order with Yemenia Airways for 10 A320 aircraft, valued at USD $700 million. Emirates Airlines, which is the Middle East's largest airline, is currently in discussions with both Boeing and Airbus for a large number of new aircraft. These are expected to included both Airbus A330 and Boeing 777 aircraft.
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