Boeing has forecast that airlines in the Middle East will need 3 350 new airplanes over the next 20 years, valued at an estimated $730 billion. The airline manufacturer presented its 2017 Current Market Outlook (CMO) for the region during the Dubai Airshow which is currently under way.
"Traffic in the Middle East is expected to grow at 5.6% annually during the next 20 years," said Randy Tinseth, vice president of marketing, Boeing Commercial Airplanes. "The fact that 85% of the world's population lives within an eight-hour flight of the Arabian Gulf, coupled with robust business models and investment in infrastructure, allows carriers in the Middle East to channel traffic through their hubs and offer one-stop service between many cities."