BOEING, the world’s leading aerospace company and the largest manufacturer of commercial jetliners and military aircraft combined, forecasts a 7.1 per cent traffic growth rate in Middle East air travel over the next 20 years.
Martin Bentrott, vice president, sales, Middle East, Central Asia and India, Boeing, said: “The Middle East continues to outperform the rest of the world in air travel growth and is poised to continue growing over the next 20 years. In fact, Middle East demographics, where over half the population is under the age of 25, favour continued growth since younger people will account for much of the future market.”
Confirming the Middle East’s growth potential, Boeing has announced its participation as platinum sponsor and exhibitor at the fourth edition of Avex International Airshow – the Africa and Middle East aviation platform.
Avex is scheduled to take place from November 7 to 10 at Sharm El Sheikh International Airport, Egypt. The event focuses on the Africa and Middle East region’s aviation sector and gathers key decision makers who are looking to expand in Africa’s untapped aviation market.
“The Middle East is an extremely important commercial aviation market that’s growing at a substantial pace. We are keen to support that growth by providing the right products at the right time,” Bentrott said. “Avex is an important event for the region’s aviation industry and we are proud to be able to support this initiative as a sponsor and exhibitor.”
According to a recent International Air Transport Association report Middle East carriers are expected to post a profit of $100 million this year, even as they gain market share by attracting increasing numbers of passengers from Europe to the Asia-Pacific regionthrough their hubs. Boeing sees a requirement for 2,340 new airplanes in the Middle East by 2029 and predicts that the market will continue to be dominated by twin-aisle, long-range airplanes, which will account for almost 43 per cent of the demand.