• Home
• /
• Aviation

Boeing predicts $300b in planes for ME in 20 years

DUBAI – US plane maker Boeing has forecast the Middle East carriers will need 1,710 new airplanes valued at $300 billion over the next twenty years – half of which will be in the UAE, said a company executive at the Dubai Airshow on Monday.

Randy Tinseth, vice president of Marketing, Boeing Commercial Airplanes, said the growth in planes, valued at $300billion, would be serviced by a growth in market share of the profitable Asia-Europe route using the region’s strategic location.

Tinseth, presenting the company’s twenty year forecast for the region said the growth in fleet capacity and air traffic would be driven by growth in GDP in the region and Asia.

“We see tremendous growth for the Middle East region and Middle East carriers are well-positioned to meet those growth requirements with the fleet capacity they have in the form of unfilled orders, or backlog,” Tinseth said.

Boeing has also predicted substantial growth in the low-cost regional service.

“Since 2003, there have been several low-cost airlines that have begun service in the region,” Tinseth said.

“With a youthful population and a large migrant workforce, there are tremendous opportunities for budget travel.”

Email: zoe@khaleejtimes.com