Boeing: ME carriers require USD470b worth of aircraft in 20 yrs 

(MENAFN) Boeing Commercial Airplanes' marketing vice president, Randy Tinseth, stated that between 2012 and 2031, the Middle East will need USD470 billion worth of new airplanes, reported Arabian Business.

Tinseth said that during the 20-year period, the region would need 2,370 planes, adding that 31 percent of the airplanes will replace current fleet assets, and 69 percent will be needed to meet rapid growth.

He noted that twin-aisle aircraft, including the Boeing 777 and 787, will comprise 46 percent of the region's new aircraft deliveries over the mentioned period, compared to 23 percent worldwide.

On the other hand, single-aisle planes, including Boeing 737, will represent 45 percent of regional deliveries, whereas large airplanes, including the Boeing 747, will comprise 8 percent of forecasted demand.

It is worth noting that the region's carriers have a backlog of 882 planes at the current time, of which 62 percent are long-haul, twin-aisle and large aircraft.