(MENAFN- Qatar News Agency) The growth in air passenger and air cargo traffic in the Middle East, between 2012 and 2032, is likely to outperform that across all other regions, Alpen Capital in its report predicted. Air passenger traffic in the Middle East, in terms of Revenue Passenger Kilometers (RPK), is expected to expand at a compounded annual growth rate (CAGR) of 6.7 percent, while air cargo traffic, in terms of Freight Tonne Kilometers (FTK), is expected to grow at a 7.2 percent CAGR,the report published in Saudi Gazette said. Air passenger traffic on outbound routes from the Middle East is expected to outpace that on traditional routes such as Europe € Europe, Europe € North America, and North America € North America. Within the Middle East, air passenger traffic in the United Arab Emirates (UAE), Saudi Arabia, and Oman is expected to grow at a 6.6 percent, 6.9 percent, and 7.5 percent CAGR, respectively, between 2012 and 2017. The Middle East aviation market is expected to receive the delivery of 2,610 aircraft between 2012 and 2032, valued at $550 billion. As a result, the total fleet size in the region is expected to increase at a 4.7 percent CAGR during the period to reach 2850 aircraft in 203
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