Boeing Forecasts Commercial Market Growth In Middle East, Africa

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Boeing is forecasting that the Middle East will require around 3,000 new airplanes and Africa’s airlines will need 1,030 new aircraft over the next 20 years. The company’s recently released 2021 Commercial Market Outlook (CMO) also suggests that the Middle East will see a demand for aftermarket services worth an estimated $740 billion over the same time period. With passenger growth in the region predicted to more than double by 2040, Boeing believes that more than two-thirds of new airplane deliveries to the Middle East will be used to accommodate that growth while one-third will replace older aircraft.

“The Middle East region’s role as a global connecting hub continues to be important for developing markets to and from Southeast Asia, China and Africa,” said Randy Heisey, Boeing managing director of commercial marketing for the Middle East and Africa. “The region has been a leader in restoring confident passenger travel through multi-faceted initiatives that aid international travel recovery.”

In Africa, the 2021 CMO projects that commercial aviation will grow at a rate of 3 percent per year over the next 20 years. More than 70 percent of African commercial deliveries are expected to be single-aisle jets with 80 percent of overall deliveries contributing to fleet growth. Demand for aftermarket services is estimated to be worth $235 billion through 2040.

“Africa has healthy opportunities to expand travel and tourism, coinciding with increasing urbanization and rising incomes,” said Heisey. “African carriers are well-positioned to support inter-regional traffic growth and capture market share by offering services that efficiently connect passengers and enable commerce within the continent.”

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