The Middle East will require $745 billion in aviation services through 2037, Boeing forecasts. The region will need to keep up with increased freight traffic and a spike in passengers.
Over the next 20 years, the Middle East will need nearly 3,000 new commercial airplanes, more than tripling the existing fleet.
Other findings in Boeing’s Services Market Outlook 2018-2037 – Middle East Perspective report include 63,000 technicians, 95,000 cabin crew and 60,000 pilots will be needed over the next 20 years; and demand for aviation services in the region will increase at 4.6 percent annually. This growth will be more than 8 percent of global demand and will account for $745 billion.
“The Middle East is an unmatched location to connect the growing markets of Asia, Europe, and Africa,” said Ihssane Mounir, Boeing senior vice president of commercial sales and marketing. “This feeds the appetite in the region for new commercial airplanes and the services to operate and maintain those jets.”
Middle Eastern customers benefit from Boeing’s advanced technologies and decision support tools, said Debra Santos, chief marketing officer of Boeing Global Services commercial services, said.
The global aerospace services market is growing at a rate of 3.5 percent.
Boeing Global Services is one of Boeing’s three business units.