Increased investment in fleet expansion drives aviation sector

Doha, Qatar: According to Boeing s 2024 Commercial Market Outlook, passenger traffic in the Middle East is forecasted to rise by 4.8 percent annually...

Doha, Qatar: According to Boeing’s 2024 Commercial Market Outlook, passenger traffic in the Middle East is forecasted to rise by 4.8 percent annually over the next 20 years, with airlines in Qatar and across the region requiring over 3,100 new airplanes during the period.

Speaking to The Peninsula in an interview, Omar Arekat, Vice President of Boeing’s Commercial Sales and Marketing for the Middle East said: “This growth is attributed to the region’s strategic position as a global hub for long-haul connectivity, as well as expanding intra-regional travel routes.”

The report on Boeing’s 2024 Commercial Market Outlook highlights that the region’s commercial aviation industry continues to witness potent performance this year, primarily driven by strong demand for air travel and increased investment in fleet expansion and modernisation.

Commenting on fleet modernisation and initiatives to implement sustainability in the sector, Arekat said “With Middle Eastern airlines aiming to renew fleets for enhanced fuel efficiency, sustainability has become a top priority. As a result, the region is expected to see twin-aisle jets making up 44 percent of its fleet by 2043, supporting both environmental targets and cost reductions.”

In terms of the growing demand for air cargo across the region, the industry is bolstered by strong e-commerce boosts and robust logistics networks. He said, “Boeing projects that global widebody fleets, which support both passenger and cargo traffic, will more than double in size to meet these needs.”