Boeing Forecasts for Dubai Airshow 2023: Demand Of 3K Aircraft in Middle East
As the 2023 Dubai Airshow draws near, all eyes are on the latest industry predictions, particularly the Dubai Airshow 2023 Forecasts from Boeing. This eagerly awaited event, starting Monday, promises to be a focal point for the aviation sector, offering insights into future trends and significant aircraft deals. Boeing has reaffirmed its 2023-2042 Commercial Market Outlook (CMO), placing a spotlight on the future of commercial aviation in the Middle East. Boeing’s forecast, a crucial part of this year’s airshow narrative, projects that 3,025 new commercial aircraft will be delivered to the Middle East region between 2023-2042, with a substantial number being widebodies.
This forecast is a significant indicator of the shifting dynamics in the aviation market. Traditionally, major airline orders have been the highlight of the Paris and Farnborough Air Shows, with some emerging from the Singapore Airshow. However, the Dubai Airshow is rapidly gaining prominence, especially with increasing orders from Middle Eastern, Central European, and South Asian airlines. The event is becoming a focal point for showstopping large orders, reflecting the growing influence of these regions in the global aviation market.
The Middle East: A Thriving Market for New Aircraft
According to Boeing’s CMO, the global need for new aircraft is immense, with an estimated requirement of 42,595 new aircraft by 2042, expanding the total fleet to 48,575. For Middle East-based airlines, the need is particularly pronounced, with a demand for 3,025 new aircraft, 45% of which are expected to be widebodies. This translates to approximately 1,350 new widebody aircraft. The forecast also includes 35 regional jets, 1,570 single-aisle aircraft, and 70 dedicated freighters, with the number of dedicated freighters in the Middle East projected to more than double to 180 by 2042.
Boeing Vice President of Commercial Marketing, Darren Hulst, highlighted that airlines in the Middle East are transforming the region into a major international air transit hub. This transformation is not only changing the landscape of the region’s aviation but also influencing global air traffic patterns and fleet compositions. The demand for a diverse range of aircraft types, from regional jets to widebodies, underscores the dynamic and evolving nature of the aviation market in the Middle East.
Riyadh Air’s Emerging Presence in the Market
The airshow buzzes with speculation about potential new orders, particularly from newcomer Riyadh Air. Reports suggest the airline is in discussions with Boeing for up to 100 737 MAX narrowbodies. Bloomberg recently reported that Riyadh Air is eyeing firm orders for 50 737 MAXs, with an option for an additional 50, and an announcement could be imminent. These numbers are still subject to change as discussions progress, but the deal signifies Riyadh Air’s ambition to expand its short-haul fleet and compete with major Gulf airlines.
Riyadh Air’s strategy aligns with Saudi Arabia’s broader initiative to diversify its economy beyond oil production. By building up its network and turning Riyadh into a major aviation hub, the airline aims to challenge established players like Emirates and Qatar Airways. The airline’s prior agreement with Boeing for up to seventy-two 787 Dreamliners, and the potential new 737 MAX order, reflect a growing partnership with Boeing, partly due to Airbus’s limited delivery slots.
Emirates’ Plans for Cargo Expansion
Not to be outdone, Emirates is also making headlines with its plans to expand cargo capacity. Bloomberg reports that Emirates is looking to double its freight capacity over the next decade, with a decision between Airbus A350Fs or Boeing 777-8 freighters still a few years away. Emirates Cargo Chief Nabil Sultan indicated that the airline is evaluating its fleet mix, considering possible conversions of its 777 passenger aircraft into freighters.
Emirates SkyCargo currently operates 11 dedicated freighters. It has taken proactive steps during the COVID-19 pandemic, including wet-leasing Boeing 747 cargo planes. The airline’s recent order for new Boeing freighters and the conversion of 10 777-300ER passenger planes to freighters are part of its strategic plan to strengthen its cargo operations. As the Dubai Airshow progresses, the aviation world eagerly awaits updates on Emirates’ decisions and other potential deals.
The Dubai Airshow 2023 is shaping up to be a pivotal event in the aviation industry, with Boeing’s forecasts and potential deals from Riyadh Air and Emirates highlighting the dynamic nature of the market.
What developments are you most excited about at this year’s Dubai Airshow? Share your thoughts in the comments below, and stay tuned for more updates.