(MENAFN) The Boeing 2012 Current Market Outlook (CMO) revealed that over the coming 20 years, Middle East carriers are expected to added 2,370 new planes, reported Arabian Business.
Randy Tinseth, vice president of Marketing at Boeing Commercial Airplanes, said that during the period, airlines in the Asia Pacific area will add 12,000 aircraft.
He added that in the 20-year period, 34,000 new planes will be added globally, with the market projected to grow to USD4.5 trillion.
Over the period, airline traffic's annual growth rate is projected to rise 5 percent, whereas cargo traffic is expected to grow 5.2 percent.
At the end of the next 2 decades, the world freighter fleet is forecasted to increase to 3,200 aircraft from the current 1,740.
It is worth noting that according to Boeing, the single-aisle market, served by the US company's Next-Generation 737 and the future 737 MAX, will carry on its strong growth, whereas widebodies, including Boeing's 747-8, 777 and 787 Dreamliner, will represent around USD2.5 trillion worth of new aircraft deliveries.