Dubai, May 14 (PTI) Airlines in the Middle East will require an estimated 2,340 airplanes worth USD 390 billion by 2029, with demand being driven by the rapid growth of air travel in the region, the Current Market Outlook from Boeing has said.
The company also estimates that Middle Eastern air travel will grow by an average of 7.1 per cent per year over the next 20 years, outpacing the region's projected economic growth rate of 4 per cent over the same period.
"Middle East airlines have consistently led the rest of the world in traffic growth over the past two years and there is every indication that this trend will continue into the foreseeable future," Boeing Commercial Airplanes VP (Marketing) Randy Tinseth said, while releasing the Outlook.