MidEast aviation services to be worth $745 billion by 2037

Boeing projects the Middle East will need $745 billion in aviation services through 2037 to keep pace with growing passenger demand and freight traffic in the region, according to a new report.

According to Boeing, the high value services market will largely be driven by demand for nearly 3,000 new commercial airplanes in the Middle East over the next 20 years – a figure that represents a tripling of the existing fleet.

The report also found that the Middle East will drive more than 8 percent of global demand for aviation services, which will grow at a projected 4.6 percent annually.

Over the same time period, the Middle East will require 218,000 new personnel – 60,000 pilots, 63,000 technicians and 95,000 cabin crew.

“The Middle East is an unmatched location to connect the growing markets of Asia, Europe and Africa,” said Ihssane Mounir, the senior vice president of commercial sales and marketing for Boeing. “This feeds the appetite in the region for new commercial airplanes and the services to operate and maintain those jets.”

Headquartered in Dallas, Boeing Global Services continues to outpace the aerospace services market growth of 3.5 percent.

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