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Boeing released (18-Nov-2020) its 2020 Commercial Market Outlook (CMO), which projects the Middle East region will require 2945 new aircraft during the next 20 years, valued at USD685 billion. Boeing VP for commercial marketing Darren Hulst stated: "In recent decades, several airlines in the Middle East have leveraged their geographical position to connect rapidly growing Asian economies and the more mature markets in Europe... The current market disruption will shape airline fleet strategies long into the future as airlines focus on building versatile fleets that provide future network flexibility, maximizing capability while minimising risk and improving efficiency and sustainability". CMO highlights include the following for the Middle East region:

  • Passenger traffic growth forecast to increase by an average of 4.3% p/a;
  • Commercial fleet expected to reach 3500 by 2039, including 1280 new widebody passenger aircraft and a near tripling of the narrowbody fleet, so as to address replacement needs and growth;
  • Freighter fleet forecast to nearly double from 80 in 2019 to 150 by 2039;
  • 2020 Pilot and Technician Outlook projects the region will take on 223,000 new aviation personnel by 2039, including 58,000 pilots and 106,000 cabin crew.

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