Airbus sees Middle East aircraft demand at $347B from 2011-2030

According to Airbus' latest Global Market forecast carriers in the Middle East will require 1,921 new passenger and freighter aircraft between 2011 and 2030 valued at $347.4B. Of these, 1,882 are passenger aircraft and 39 are freighter aircraft. The main drivers of the continued strong demand for new aircraft include fleet expansion and replacement, greater urbanisation, an increasing number of mega cities and the overall ongoing expansion of the region as a geographical hub and tourist destination. These factors are driving an above average passenger demand growth rate of 6.4 per cent per year which is well above the world average 4.8% over the next 20 years.