Boeing's Middle East outlook 2021
In its commercial market outlook (CMO) for 2021, Boeing forecasts that airlines in the Middle East will require 3,000 new airplanes valued at USD 700 billion and aftermarket services such as maintenance and repair worth USD 740 billion, with the region positioned to capitalise on the recovery of regional and international travel and cargo demand.
ME passenger traffic and the region’s commercial fleet are projected to more than double over the 20-year forecast period. Air freight represents an ongoing area of opportunity for Middle East airlines, with the freighter fleet projected to nearly double from 80 airplanes in 2019 to 150 by 2040.
Notably, air cargo traffic flown by Middle East carriers has increased since 2020 by nearly 20%, with two of the world’s top-five cargo carriers based in the region. (cj)