Aviation news analysis
50 SKY SHADES - World aviation news

Boeing Forecasts Middle East Aviation Services Market at $745 Billion

Download: Printable PDF Date: 11 Feb 2019 03:17 category:
Publisher:
Boeing Forecasts Middle East Aviation Services Market at $745 Billion - Manufacturer publisher
Tatjana Obrazcova
Aircraft: Airplanes

Boeing projects the Middle East will require $745 billion in aviation services through 2037 to keep pace with growing passenger and freight traffic in the region, according to a new report released today at MRO Middle East in Dubai.

The high value services market is largely driven by the demand for nearly 3,000 new commercial airplanes in the Middle East over the next twenty years, more than tripling the existing fleet. The growing fleet requires aviation services, including supply chain support (parts and parts logistics), maintenance and engineering services, and aircraft modification.

Boeing's Services Market Outlook (SMO) 2018-2037 – Middle East Perspective forecasts growing need for services that increase fleet productivity and reduce operating costs. Among the report's findings:

  • The Middle East will drive more than 8 percent of global demand for aviation services, representing $745 billion, and growing at a projected 4.6 percent annually. 
  • Nearly 218,000 new personnel – 60,000 pilots, 63,000 technicians, and 95,000 cabin crew – will be needed in the Middle East over the next 20 years.

"The Middle East is an unmatched location to connect the growing markets of Asia, Europe and Africa. This feeds the appetite in the region for new commercial airplanes and the services to operate and maintain those jets," Ihssane Mounir, senior vice president of Commercial Sales & Marketing for The Boeing Company. 

Boeing has a unique advantage in providing aviation services as it can draw upon the expertise of its commercial airplanes and defense businesses to provide more value to customers. 

"Our Middle East customers gain tremendous value when we pair their operational knowledge with our OEM expertise, advanced technologies, and decision support tools to help maximize efficiency in their operations," said Debra Santos, Chief Marketing Officer, Commercial Services for Boeing Global Services. "This gives their passengers a positive flight experience that keeps them coming back."

Boeing Global Services continues to outpace the aerospace services market growth rate of 3.5 percent as it broadens its portfolio of solutions to meet customer needs.

 



Loading comments for Boeing Forecasts Middle East Aviation Services Market at $745 Billion...


Recommended

Bombardier Commercial Aircraft Relocates its Q Series Aircraft Regional Support Team

In order to enhance Customer Support in Africa and the Middle East, Bombardier Commercial Aircraft will relocate its Q Series aircraft regional support team from Lanseria International Airpo...

China's Favourite International Airline for the Third Consecutive Year is Aeroflot

Aeroflot has been once again recognised as the Favourite International Airline in China. The prestigious award was given to Aeroflot for the third consecutive year at the Flyer Award Ceremony 201...

Successful first flight of ACJ319neo

On 24th April 2019,ACJ319neo, powered with New engine option, successfully completed a first flight lasting one hour and 55 min. It was the beginning of a short flight-test prog...

Norwegian first quarter results - increased revenues and reduced costs

Norwegian reported its first quarter results. The quarter was characterized by reduced costs, increased revenue and significantly improved on-time performance. The net loss was NOK 1,489 million, whil...