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Two of the world’s largest aircraft manufacturers have predicted the Middle East represents a fertile growth area for their products.
Airbus has predicted the region will need 1,882 new passenger aircraft in the next 20 years, representing a current face value of $336.3 billion.
Rival Boeing, meanwhile, puts its estimate for growth at 1,670 new passenger planes by 2030.
The Middle East’s geographical position means it is within reach of a direct flight from every major destination globally.
This is a key factor in the region’s success and one exploited by its largest carriers, said Randy Tinseth, Boeing’s commercial airplanes VP of marketing.
“The collective capacity of Emirates Airlines, Etihad Airways and Qatar Airways has grown by an average of 23 per cent annually over the past decade and we expect this trend to continue well into the future,” he said.
“All three airlines base their growth strategies on the principle that newer, more efficient airplanes will provide a competitive advantage over their rivals from Europe and Asia.”
John Leahy, Airbus’ CEO customers, agrees: “The region is uniquely placed with more than 85 per cent of the world’s population within reach of a direct flight, making the Middle East a fertile market place for our eco-efficient aircraft today and beyond.
The Middle East is already the world’s busiest region for Airbus’ flagship superjumbo A380 aircraft, the manufacturer revealed.