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Middle East Aviation Services Market Forecast at $745 Billion

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 released at MRO Middle East in Dubai. About 218,000 new personnel, including 60,000 pilots, 63,000 technicians, and 95,000 cabin crew, will be needed in the Middle East over the next 20 years.

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. According to the report, the Middle East will drive more than 8 percent of global demand for aviation services, representing $745 billion, and growing at a projected 4.6 percent annually.

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

“Our Middle East customers gain tremendous value when we pair their operational knowledge with our OEM expertise, advanced technologies, and decision support tools to help maximize efficiency in their operations,” said Debra Santos, Chief Marketing Officer, Commercial Services for Boeing Global Services. “This gives their passengers a positive flight experience that keeps them coming back.”

Boeing Global Services continues to outpace the aerospace services market growth rate of 3.5 percent as it broadens its portfolio of solutions to meet customer needs.

 

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