Mideast will need aircraft worth $408bn over 20 years: Airbus

Airline fleets in the region are expected to grow nearly three times by 2031 to meet rising demand.By Pratap John/Chief Business ReporterMiddle Eastern airlines will need some 1,963 new passenger and cargo aircraft valued at $408bn over the next 20 years, Airbus said in its latest regional market forecast. Passenger traffic in the Middle East will increase by 6.2% annually over the next 20 years, with airline fleets expected to grow nearly three times by 2031 to meet this demand, said Andrew Gordon, Airbus director (Strategic Marketing and Analysis).In the passenger market, the fleet of aircraft operated by Middle Eastern carriers is expected to grow nearly three times its current size in 20 years with some 1,384 passenger aircraft deliveries needed to meet additional new demand and 522 aircraft currently in service to be replaced. Additionally, Airbus predicts that some 57 new production freighter will be delivered to the region’s airlines over the next two decades, while many of the aircraft will be converted from passenger models. The later represents a growth of 2.2 times the size of the current fleet in the region.Combining demand for freighter and passenger aircrafts, Airbus predicts that carriers in the region will acquire over the next 20 years some 792 single-aisle aircraft and more than 1,000 widebodies, comprising some 826 twin-aisle aircraft and 345 very large aircraft. “The Middle East market will witness significant growth in the aviation industry over the next 20 years,” said Gordon. “Growing economies, increasing numbers of tourists and ongoing economic diversification will drive the development of passenger traffic.”“Airbus will be uniquely placed to meet demand from airlines in the region with the most modern, efficient and comprehensive product line, ranging from 100 to over 500 seats and catering to every market segment.”Airbus’ forecast for the Middle East region is derived from the company’s Global Market Forecast, which foresees a need for some 28,200 passenger and freighter aircraft valued at nearly $4tn over the next 20 years. In the various size categories the forecast predicts total demand for 1,710 very large aircraft, 6,970 twin aisle widebodies and 19,520 single aisle aircraft.The Airbus product line comprises the best-selling A320 Family in the single aisle market, the popular A330 and all-new A350 XWB in the mid-size widebody category and the flagship A380 in the very large aircraft segment. In the freight market Airbus currently offers the new-build A330-200F and the A330 Passenger-to-Freighter (A330P2F) programme.