Boeing predicts Middle Eastern market will double by 2040
In a recent published forecast, Boeing predicts that the commercial jet aircraft and services market will double by 2040, growing to over $1.4 trillion.
The airlines in the Middle East will have to purchase 3,000 new aircraft worth $700 billion, and spend $740 billion on servicing them.
The prediction has been outlined in Boeing’s commercial market outlook (CMO) for 2021, which focuses on a 20-year period.
The company expects that the Middle East will remain a connecting hub of global importance, and strengthen its position by taking the lead in restoring passenger confidence in the aftermath of the global health crisis.
Additionally, it expects the freighter fleet to grow by more than one-third to 150 in 2040, and passenger fleet to increase to 3,530 jets.
Much of this growth will involve narrow-body aircraft, as Boeing expects its fleet to triple over the next two decades.
The company also states that by 2040 the region will require 223,000 new aviation personnel, including 54,000 pilots.
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