The Middle East travel market is set to grow ahead of the global average, by almost 10%, over the next two decades, says Boeing.
The manufacturer's Current Market Outlook (CMO), a comprehensive analysis of the commercial aviation market, says that despite the current downturn, global economic growth will return and air travel will rebound to long-term trends.
Randy Baseler, Boeing Commercial Airlines vice-president Marketing, says: "Clearly, passenger preference for more frequent, non-stop flights will continue to drive market evolution, airline strategies and airplane selection. After all, air travel is all about passenger convenience and saving time."
Boeing estimates the Middle East commercial aircraft fleet will double from the current 470 aircraft to an estimated fleet of 1,123 – almost equally divided between single-aisle and twin-aisle aircraft. Carriers in the Middle East will take delivery of 786 passenger and freighter aircraft valued at $81 billion.
Boeing points out that this delivery number (786) and the difference between current and estimated fleet size (653) factors in retirement/replacement of older aircraft.
Middle East carriers will be big customers for intermediate twin-aisle aircraft. Indeed, intermediate twin-aisle aircraft represent 36% (284 aircraft) of the forecast deliveries. More than half, or 437 aircraft, will be single-aisle.
Expertise
Boeing says given the competition and other market dynamics faced by Middle East airlines in the next two decades, they are expected to require only 22 regional jets and 43 B747s and larger aircraft.
Not only is average traffic growth within the region forecast to be higher than the world average, long-haul routes are expected to see particularly high growth rates. It is expected that traffic growth in the Middle East's largest market – to/from Europe – to grow 5.9% annually.
Baseler says: "On the global scale we see market fragmentation – or ‘point-to-point' operations – continuing, which means airlines will rely more and more on smaller aircraft to meet passenger demand for safe, reliable service; non-stop flights when and to where they want to go; and low fares in comfortable surroundings."
He highlights the role of the Boeing 777 family in expanding point-to-point travel and how the new 7E7 Dreamliner will accelerate this process, in line with Boeing's contrary approach to the current Airbus business model.
Baseler also highlights the 7E7 will be the fastest widebody jet, will require 15-20% less fuel than similar aircraft, and will feature passenger comfort including larger windows, an impressive cabin and enhanced overhead luggage storage.
With increasing pressure on the airlines to become more efficient, Boeing has moved into the substantial and lucrative aviation support services market, worth about $3.1 trillion over the next 20 years.
Baseler says: "In today's environment, airlines want partners and suppliers who understand the market, appreciate the challenges faced by individual airlines, and who have the expertise to pull together industry resources to solve airline problems.
"We believe Boeing is uniquely positioned and prepared to bring this kind of value to our customers, and we see this as a tremendous opportunity to help build a safe and efficient global air transportation system."
Source: Flight Daily News
