PARIS, 18 November 2005 — Aircraft makers Airbus and Boeing have both set their sights on the Middle East and hope to land major orders from airlines in the region which are expected to need about 1,000 new planes in the next 20 years. “Despite international strife and regional tensions, traffic has continued to grow in recent years for the region’s air carriers,” said Boeing in its review of the world market.
Both companies have identified the Middle East as a high growth area where demand is expected to outstrip expansion for the world market as a whole.
Boeing has estimated that air traffic in the region over the next two decades will increase by 5.5 percent per year, while Airbus is counting on annual expansion of 7.1 percent. Global air traffic is expected to increase by 5.3 percent per year over the period. The current fleet of aircraft operated by airlines in the region numbers 576 but is expected to more than double between now and 2024 to 1,145 planes, according to Boeing.
