• News
  • Technology
  • Culture
  • Entertainment
  • Sport
  • Travel
  • Music
  • More
    • Politics
    • Lifestyle
    • TV
    • Games
Friday, March 24, 2023
  • Login
No Result
View All Result
NEWSLETTER
FINCHANNEL
  • Home
  • Business
    • BANKS
      • GeoBanks
    • Finance
    • Insurance
    • Markets
    • Pharmacy
    • Press Releases
    • RealEstate
    • RealEstate
    • Finance
    • Insurance
    • Banks
      • GeoBanks
    • Markets
    • Press Releases
    • Personal Finance
  • World
    • America
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Americas
    • UK local news
  • Travel
    • Hotels in Georgia
    • Tours in Georgia
  • Videos
    • Promos
    • Soundslides
    • TheClinics
    • TheHoteliers
    • TheUniversities
    • TheHoteliers
    • TheClinics
    • TheUniversities
    • BestWorkplaces
    • Soundslides
    • Promos
    • Banking Forum
      • Promos
      • Soundslides
      • TheClinics
      • TheHoteliers
      • TheUniversities
  • Opinion
    • Editorial
      • Analysis
      • GORBI
      • OP-ED
      • VISA Editorial
    • Analysis
    • Gorbi
    • Book reviews
  • Tech
  • Interview
  • People
    • CityLife
    • Health & Beauty
      • Coronavirus
    • LifeStyle
    • Employment
      • MyCareer
    • Education
    • Media
    • Celebrities
  • Oil&Auto
    • Auto
    • Energy
  • EN
    • EN
    • GE
  • Home
  • Business
    • BANKS
      • GeoBanks
    • Finance
    • Insurance
    • Markets
    • Pharmacy
    • Press Releases
    • RealEstate
    • RealEstate
    • Finance
    • Insurance
    • Banks
      • GeoBanks
    • Markets
    • Press Releases
    • Personal Finance
  • World
    • America
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Americas
    • UK local news
  • Travel
    • Hotels in Georgia
    • Tours in Georgia
  • Videos
    • Promos
    • Soundslides
    • TheClinics
    • TheHoteliers
    • TheUniversities
    • TheHoteliers
    • TheClinics
    • TheUniversities
    • BestWorkplaces
    • Soundslides
    • Promos
    • Banking Forum
      • Promos
      • Soundslides
      • TheClinics
      • TheHoteliers
      • TheUniversities
  • Opinion
    • Editorial
      • Analysis
      • GORBI
      • OP-ED
      • VISA Editorial
    • Analysis
    • Gorbi
    • Book reviews
  • Tech
  • Interview
  • People
    • CityLife
    • Health & Beauty
      • Coronavirus
    • LifeStyle
    • Employment
      • MyCareer
    • Education
    • Media
    • Celebrities
  • Oil&Auto
    • Auto
    • Energy
  • EN
    • EN
    • GE
No Result
View All Result
FINCHANNEL
No Result
View All Result
ADVERTISEMENT
Home Business

Boeing forecasts long-term resilience and return to growth for Middle East aviation sector

by The FINANCIAL
November 18, 2020
in Business
0
Boeing forecasts long-term resilience and return to growth for Middle East aviation sector
Share on FacebookShare on Twitter

The FINANCIAL — Boeing anticipates demand for 2,945 new airplanes in the Middle East valued at $685 billion over the next two decades, as the industry recovers from the COVID-19 pandemic in the medium and long term. The projection is part of Boeing’s 2020 Commercial Market Outlook (CMO), an annual forecast of 20-year demand for commercial airplanes and services.  

The 2020 CMO reflects the impact of the pandemic and Boeing’s view of near-, medium- and long-term market dynamics globally and regionally. Commercial aviation and services markets will continue to face significant challenges earlier in the 20-year forecast, while showing resilience and a return to growth trend over the longer term.

Over the next 20 years, passenger traffic growth in the Middle East is projected to increase by an average of 4.3% per year, above the global average of 4% growth per year.

RelatedPosts

Local manufacturing is one of the primary factors that can guarantee the stability of any country

World Hearing Day 2023

TBC Launched ESG Academy 

Your Essential Homeowners Guide to Buying Patio Doors

“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,” said Darren Hulst, Boeing vice president of Commercial Marketing. “At the historical crossroads connecting Europe, Africa and Asia, the Middle East and its airlines will remain a critical hub of sixth-freedom passenger flows and cargo throughout the 20-year outlook.”

The Middle East commercial fleet is expected to reach 3,500 by 2039 – more than doubling the current 1,510 airplanes – to address replacement needs and growth, according to the CMO. Globally, with key industry drivers expected to remain resilient through the forecast’s 20-year period, the commercial fleet is expected to return to its growth trend, generating demand for more than 43,000 new airplanes.

Additional highlights in the 2020 Middle East CMO include the following:

  • In the widebody segment, Boeing forecasts Middle East demand for 1,280 new passenger airplanes by 2039. While this reflects challenges to long-haul markets that are both typical to air-travel shocks and specifically due to the pandemic’s impact on international travel, the CMO forecasts a recovery to pre-pandemic trends in the medium and long term. The Middle East’s replacement demand is also a growing share of new widebody airplane demand.           
  • In the near-term, domestic and short-haul markets around the world are expected to recover earlier from pandemic effects. Middle East single-aisle seat capacity more than doubled over the past five years for destinations outside the region. The CMO projects a near tripling of the single-aisle fleet by 2039 to further serve this growing segment of the market.
  • Since 2000, Middle East carriers have grown their share of world air cargo traffic from 4% in 1999 to 13% as they rapidly grew their widebody passenger and freighter fleets. Freighters represent a continued area of opportunity for Middle East airlines with the fleet projected to nearly double from 80 in 2019 to 150 by 2039.
  • Boeing projects a 20-year opportunity for Middle East commercial services valued at $725 billion, including requirements for supply chain and maintenance, repair and overhaul  capability focused on newer airplane technologies and software solutions to reduce operating costs and improve efficiency.
  • Boeing’s 2020 Pilot and Technician Outlook forecasts that the region is estimated to require 223,000 new aviation personnel by 2039, including 58,000 pilots, 59,000 technicians and 106,000 cabin crew members.

“While aviation has seen periodic demand shocks since the beginning of the jet age, the industry has recovered from these downturns every time as aviation plays an integral role in the global economy,” Hulst added. “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 minimizing risk and improving efficiency and sustainability.

Tags: airplanesaviationaviation industryboeingboeing companyBoeing’s 2020 Commercial Market Outlookcommercial airplanesThe Middle East commercial fleet
ADVERTISEMENT
The FINANCIAL

The FINANCIAL

Related Posts

Local manufacturing is one of the primary factors that can guarantee the stability of any country
Press Releases

Local manufacturing is one of the primary factors that can guarantee the stability of any country

by The FINANCIAL
March 16, 2023
0

Georgia's already growing economy would be even stronger with participation from local companies by producing goods for domestic and international...

Read more
World Hearing Day 2023

World Hearing Day 2023

March 16, 2023
TBC Launched ESG Academy 

TBC Launched ESG Academy 

February 23, 2023
Your Essential Homeowners Guide to Buying Patio Doors

Your Essential Homeowners Guide to Buying Patio Doors

February 17, 2023
Next Post
Apple’s new program reduces App Store commission to 15% for small businesses

Apple's new program reduces App Store commission to 15% for small businesses

Please login to join discussion
ADVERTISEMENT
  • Trending
  • Comments
  • Latest
EasyJet to fly to London from Stockholm Arlanda

The London Diplomatic List, Addresses, Contacts & Working Hours

January 23, 2023
How to Check KRA Pin Using ID Number

How to Check KRA Pin Using ID Number

June 25, 2018
How to Manage an Employee Who’s Having a Personal Crisis

5 Assets To Store Your Wealth During Times Of Crisis

September 22, 2022
Russian issue: State Sponsors of Terrorism, U.S. State Department

Americans’ Favorable Rating of Russia Sinks to New Low of 9%

March 14, 2023
UK Government has ordered to freeze assets of additional 300 persons related to ISIL and AL-QAIDA

UK Government has ordered to freeze assets of additional 300 persons related to ISIL and AL-QAIDA

October 3, 2020
Maximizing Your Returns: How to Choose the Right Mutual Fund‍

Maximizing Your Returns: How to Choose the Right Mutual Fund‍

March 24, 2023
Protected: 6 Things You Should Know About a Master’s in Accountancy

Protected: 6 Things You Should Know About a Master’s in Accountancy

March 22, 2023
How Custom CRM Can Help Businesses: Perks, Hurdles, and Your Ultimate Game Plan

How Custom CRM Can Help Businesses: Perks, Hurdles, and Your Ultimate Game Plan

March 21, 2023
UK boosts support for International Criminal Court

UK boosts support for International Criminal Court

March 20, 2023
Children whose mothers use marijuana may try it at a younger age

By 2025, the estimated marijuana retail sales may generate up to 15 billion U.S. dollars in sales

March 20, 2023

Popular Last 24h

  • How to Check KRA Pin Using ID Number

    How to Check KRA Pin Using ID Number

    0 shares
    Share 0 Tweet 0
  • Kvaratskhelia Football Dynasty: Mamia, Badri, Khvicha and Tornike

    0 shares
    Share 0 Tweet 0
  • 5 Assets To Store Your Wealth During Times Of Crisis

    0 shares
    Share 0 Tweet 0
  • The London Diplomatic List, Addresses, Contacts & Working Hours

    0 shares
    Share 0 Tweet 0
  • Maximizing Your Returns: How to Choose the Right Mutual Fund‍

    0 shares
    Share 0 Tweet 0
  • Local manufacturing is one of the primary factors that can guarantee the stability of any country

    0 shares
    Share 0 Tweet 0
  • YouPorn made TikTok like app for adults

    0 shares
    Share 0 Tweet 0

LATEST POSTS

Maximizing Your Returns: How to Choose the Right Mutual Fund‍

Maximizing Your Returns: How to Choose the Right Mutual Fund‍

March 24, 2023
Protected: 6 Things You Should Know About a Master’s in Accountancy

Protected: 6 Things You Should Know About a Master’s in Accountancy

March 22, 2023
How Custom CRM Can Help Businesses: Perks, Hurdles, and Your Ultimate Game Plan

How Custom CRM Can Help Businesses: Perks, Hurdles, and Your Ultimate Game Plan

March 21, 2023
UK boosts support for International Criminal Court

UK boosts support for International Criminal Court

March 20, 2023
Children whose mothers use marijuana may try it at a younger age

By 2025, the estimated marijuana retail sales may generate up to 15 billion U.S. dollars in sales

March 20, 2023
New Study of Coronavirus Variants Predicts Virus Evolving to Escape Current Vaccines, Treatments

SARS-CoV-2 infection weakens immune-cell response to vaccination

March 20, 2023
107,735 Americans died between August 2021 and August 2022 from drug poisonings

107,735 Americans died between August 2021 and August 2022 from drug poisonings

March 20, 2023
Protected: Maximizing Your Returns: How to Choose the Right Mutual Fund‍

Protected: Maximizing Your Returns: How to Choose the Right Mutual Fund‍

March 20, 2023
Women imitate masculine traits to be taken seriously as gamers

Online Live Casinos with Huge Earnings

March 16, 2023
Local manufacturing is one of the primary factors that can guarantee the stability of any country

Local manufacturing is one of the primary factors that can guarantee the stability of any country

March 16, 2023

LATEST INTERVIEWS

‘Russia cannot be treated as a reasonable and reliable trade partner

‘Russia cannot be treated as a reasonable and reliable trade partner

by The FINANCIAL
February 13, 2023
0

We should increase our joint efforts to assist the growing tech sector here in Georgia

We should increase our joint efforts to assist the growing tech sector here in Georgia

by The FINANCIAL
February 13, 2023
0

‘Georgia has much to offer to UK investors

‘Georgia has much to offer to UK investors

by The FINANCIAL
February 13, 2023
0

‘The best way for the Georgian economy to prosper is to join the EU

‘The best way for the Georgian economy to prosper is to join the EU

by The FINANCIAL
February 13, 2023
0

‘The Kremlin wants Georgia to fail or abandon its European path

‘The Kremlin wants Georgia to fail or abandon its European path

by The FINANCIAL
February 13, 2023
0

Russian Patriarch Kirill Says Dying In Ukraine ‘Washes Away All Sins’

Interview: Why Putin Might Prefer A Stalemate To Going Nuclear On Ukraine

by The FINANCIAL
October 22, 2022
0

Kvaratskhelia Football Dynasty: Mamia, Badri, Khvicha and Tornike

Kvaratskhelia Football Dynasty: Mamia, Badri, Khvicha and Tornike

by Tengiz Pachkoria
August 11, 2022
0

“Green business is a key instrument to support business development in a sustainable way”

“Green business is a key instrument to support business development in a sustainable way”

by The FINANCIAL
July 27, 2022
0

Newsletter

ADVERTISEMENT

GET IN TOUCH

E-mail your company news at:

news (at) financial.ge Letters to the Editor: editor (at) finchannel.com

Local Marketing contact:

(+99532) 2252 275 | 76 EXT: 1 (+995 558) 03 03 03 (mobile) marketing (at) finchannel.com

Requests from abroad:

(+99532) 2252 275 | 76 EXT: 7 (+995599) 96 52 52 Email: zviadi (@) finchannel.com Contact video editor: E-mail: video (at) financial.ge

Postal address: 17 Mtskheta str. Tbilisi, Georgia 0179 The FINANCIAL

RESOURCE

  • Work at the FINANCIAL
  • ePaper
  • Advertise in The FINANCIAL
  • Access ePaper
  • Guest posts
  • Contributed articles
  • AmericanStockNews
  • Coupon Codes
  • GLOSSY MAG
American Culture Center
ACC Partner

GUIDEBOOK

  • Meet our team
  • Invest in Georgia
  • Become contributor
  • Archive

FOLLOW US

  • Facebook
  • Twitter
  • Google+
  • Youtube
No Result
View All Result
  • Home
  • Business
    • BANKS
      • GeoBanks
    • Finance
    • Insurance
    • Markets
    • Pharmacy
    • Press Releases
    • RealEstate
    • RealEstate
    • Finance
    • Insurance
    • Banks
      • GeoBanks
    • Markets
    • Press Releases
    • Personal Finance
  • World
    • America
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Americas
    • UK local news
  • Travel
    • Hotels in Georgia
    • Tours in Georgia
  • Videos
    • Promos
    • Soundslides
    • TheClinics
    • TheHoteliers
    • TheUniversities
    • TheHoteliers
    • TheClinics
    • TheUniversities
    • BestWorkplaces
    • Soundslides
    • Promos
    • Banking Forum
      • Promos
      • Soundslides
      • TheClinics
      • TheHoteliers
      • TheUniversities
  • Opinion
    • Editorial
      • Analysis
      • GORBI
      • OP-ED
      • VISA Editorial
    • Analysis
    • Gorbi
    • Book reviews
  • Tech
  • Interview
  • People
    • CityLife
    • Health & Beauty
      • Coronavirus
    • LifeStyle
    • Employment
      • MyCareer
    • Education
    • Media
    • Celebrities
  • Oil&Auto
    • Auto
    • Energy
  • EN
    • EN
    • GE

© 2023 JNews - Premium WordPress news & magazine theme by Jegtheme.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.