Increased Investment In Fleet Expansion Drives Aviation Sector

(MENAFN- The Peninsula) Joel Johnson | The Peninsula

Doha, Qatar: According to Boeing's 2024 Commercial market Outlook, passenger traffic in the Middle East is forecasted to rise by 4.8 percent annually over the next 20 years, with airlines in Qatar and across the region requiring over 3,100 new airplanes during the period.

Speaking to The Peninsula in an interview, Omar Arekat, Vice President of Boeing's Commercial Sales and Marketing for the Middle East said:“This growth is attributed to the region's strategic position as a global hub for long-haul connectivity, as well as expanding intra-regional travel routes.”

The report on Boeing's 2024 Commercial Market Outlook highlights that the region's commercial aviation industry continues to witness potent performance this year, primarily driven by strong demand for air travel and increased investment in fleet expansion and modernisation.

Commenting on fleet modernisation and initiatives to implement sustainability in the sector, Arekat said“With Middle Eastern airlines aiming to renew fleets for enhanced fuel efficiency, sustainability has become a top priority. As a result, the region is expected to see twin-aisle jets making up 44 percent of its fleet by 2043, supporting both environmental targets and cost reductions.”

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In terms of the growing demand for air cargo across the region, the industry is bolstered by strong e-commerce boosts and robust logistics networks. He said,“Boeing projects that global widebody fleets, which support both passenger and cargo traffic, will more than double in size to meet these needs.”

The official lauded Qatar's and the GCC market infrastructural developments, drawing numerous foreign investments.“Major investments in airport and airspace infrastructure across the region are aligned with national growth visions, ensuring the Middle East's role as a central transport and logistics hub,” Arekat said. He noted that this infrastructure expansion aims to support the anticipated 4.8 percent annual growth in passenger traffic in the region over the next two decades.

However, the Middle East's aviation sector is prioritising sustainability, targeting net-zero emissions by 2050. A central strategy is fleet modernization, which includes a focus on twin-aisle jets that are expected to make up 44 percent of the region's fleet by 2043, as per Boeing's 2024 Commercial Market Outlook.

This shift supports environmental goals and reduces operational costs. Boeing plays a pivotal role by providing more efficient single-aisle airplanes that deliver 20 to 25 percent fuel efficiency improvements compared to the airplanes they typically replace, which aligns with sustainability targets.

He outlined that Qatar Airways operates 48 Boeing 787 Dreamliners, which significantly cut emissions and fuel consumption.

In addition to that, airlines in the region are also optimising flight procedures, targeting a 10 percent emission reduction, and are increasingly adopting Sustainable Aviation Fuel (SAF).

The aviation industry expert stressed that these initiatives not merely drive Boeing's market outlook for growth but also position the Middle Eastern aviation market for sustainable expansion, in addition to harmonising economic objectives with responsibilities towards the environment.

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