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RIYADH: The Middle East region is expected to require 2,980 new airplanes valued at $765 billion to meet the growing demand from passengers and trade by 2041, estimates American airplane manufacturing giant Boeing. 

In a report titled “Boeing Commercial Market Outlook,” it said that the passenger traffic in the region is expected to grow at an annual rate of 4 percent through 2041.

“The Middle East region, a popular connection point for international travelers and trade, is also growing as a starting point and destination for business and leisure passengers,” said Randy Heisey, Boeing managing director of commercial marketing for the Middle East and Africa, and Russia and Central Asia regions.

He added: “The region will continue to require a versatile fleet that meets the demands of airline and air-cargo business models.”

Boeing said that the region’s fleet is forecast to expand to 3,400 airplanes to serve fast-growing passenger traffic as well as cargo demand in the next two decades.

“More than two-thirds of these deliveries will enable growth, while one-third will replace older airplanes with more fuel-efficient models such as the Boeing 737 MAX, 787 Dreamliner and 777X,” said Boeing in a statement.

The report noted that carriers in the Middle East have successfully fought the negative impacts posed by the pandemic by adjusting their business models and increasing the usage of freighters to maximize revenue.

According to Boeing’s report, the freight carrier fleet in the region is also expected to reach 170 by 2041, more than double the pre-pandemic fleet number. 

The report added that passenger traffic and commercial fleet are projected to more than double by 2041. 

The report further added that the region will also require 202,000 new aviation personnel, including 53,000 pilots, 50,000 technicians and 99,000 cabin crew members in the next 20 years.