Middle East based airlines, amongst the fastest growing in the world: Airbus GMF 2015
While 4% of the global population live in the region, 14% of all wide-body aircraft are operated from there. Middle East is actually the only region in the world where the wide-body fleet is larger than the single-aisle fleet. As well as long-haul traffic development, Middle Eastern carriers are developing more connectivity to local destinations and intra-regional routes. A dedicated single-aisle fleet is being built to fulfil this purpose; infact the Middle East single aisle fleet has multiplied by three in the last ten years.
Globally, air traffic has doubled every 15 years; in the Middle East, ASKs have multiplied three and a half times between 2003 and 2013. Whilst the regions large hubs are an obvious facilitator of this growth, tourism, often overlooked is another factor helping to drive growth. In the last ten years, the number of tourists visiting the Middle East has doubled, with Saudi Arabia, United Arab Emirates, Jordan, and Iran being amongst the countries welcoming higher numbers. In the aviation industry, the growing weight and influence of Middle Eastern carriers is immediately apparent. In order to foster continued economic development of the region, particularly non-oil related, and to encourage more tourism and to transport business travelers, the Middle East region is establishing an impressive fleet of passenger aircraft. In fact, the share of passenger aircraft in the world operated by the regions carriers has doubled in 10 years.
Based on this year’s Airbus Global Market Forecast, passenger traffic for Middle East carriers is expected to grow at an average rate of 6.7% per annum for the next twenty years outpacing the global growth of 4.6% for the same period.