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Boeing projects the Middle East will require $745 billion in aviation services through 2037 to keep pace with growing passenger and freight traffic in the region, according to a new report.
The high value services market is largely driven by the demand for nearly 3,000 new commercial airplanes in the Middle East over the next twenty years, more than tripling the existing fleet. The growing fleet requires aviation services, including supply chain support (parts and parts logistics), maintenance and engineering services, and aircraft modification.
Boeing’s Services Market Outlook (SMO) 2018-2037 – Middle East Perspective forecasts growing need for services that increase fleet productivity and reduce operating costs. Among the report’s findings:
- The Middle East will drive more than 8 percent of global demand for aviation services, representing $745 billion.
- Nearly 218,000 new personnel will be needed in the Middle East over the next 20 years.
Boeing has a unique advantage in providing aviation services as it can draw upon the expertise of its commercial airplanes and defense businesses to provide more value to customers.