Boeing expects demand for 36,000 aircraft over two decades

Value estimated at $5.2tn, with 3,000 of those airplanes earmarked for the Middle East.

The 787-9 Dreamliner delivery launch of Air New Zealand in Everett, Washington. Katie Lomax / AFP
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The American airplane manufacturer Boeing expects overall market demand for more than 36,000 new planes in the coming two decades, of which almost 3,000 will be delivered to Middle East airlines.

Boeing estimated the value of the new planes to be US$5.2 trillion.

“With new and more efficient airplanes entering service, the growth in air travel is being driven by customers who want to fly where they want, when they want,” said Randy Tinseth, vice president of marketing at Boeing Commercial Airplanes.

In terms of plane deliveries, the Middle East region ranked fourth — following Asia-Pacific, North America and Europe, according to Boeing’s Current Market Outlook.

“Demand from the Middle East may be smaller than Europe or North America, but geographically the region is smaller and more aircraft will be used for growth rather than replacement,” said Will Horton, a senior analyst at Sydney-based Centre for Aviation (Capa).

In comparison, demand is huge from China, with more than a dozen airlines launching last year or planning to launch next year, according to Mr Horton.

“Chinese carriers throughout Asia-Pacific are driving the region’s growth. AirAsia and Lion Air together have nearly 900 aircraft on order,” he said. “Today there are six Chinese airlines with over 100 aircraft. In just six years, this could more than double to 13 airlines.”

On Wednesday, Emirates Airline confirmed a “record-breaking” order from Boeing for 150 777X aircraft – worth $56 billion at list prices. The deal was originally made at the Dubai Airshow in November. Under the agreement, Emirates has the right to provision for additional 50 aircraft, bringing the total value of the deal to $75 bn.

Boeing said it would start the production of the 777X in 2017 and the first delivery will come in 2020.

This may come as a harsh blow for Boeing’s European rival Airbus. Only last month, Emirates cancelled a $16bn deal for 70 Airbus A350s.

Boeing emerged as a winner at the last Dubai Airshow, when it secured orders and commitments worth $95 bn, beating Airbus.

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