DUBAI (Reuters) -Airbus expects the Middle East’s regional aircraft fleet to more than double to 3,700 planes by 2044, an official said on Sunday.
The European planemaker expects passenger traffic in the Middle East to grow at a compound annual rate of 4.4% over the next two decades, Airbus Head of Marketing in Africa and the Middle East Grainne van den Berg told a press conference.
Airbus also expects the services market in the region to double to $29.9 billion by the end of 2044, van den Berg added.
The forecast came ahead of the Dubai Airshow, the largest Middle East aviation event taking place on November 17-21.
Airbus, which is among the planemakers taking part as it vies for orders with its main competitor Boeing, predicts widebody aircraft will make up 42% of total demand in the region by 2044, representing the highest share globally.
“The Middle East is transforming global aviation, and the forecast fleet expansion is truly significant, particularly when it comes to widebodies,” said Airbus President in Africa and Middle East Gabriel Semelas.
“This region is becoming the long-haul hub now and into the future,” Semelas added.
(Reporting by Federico Maccioni and Ahmed Elimam in Dubai; Writing by Menna Alaa El-Din in Cairo; Editing by Andrew Heavens and Alexander Smith)
