Dubai: Following the rapid growth of air travel in the region, airlines in the Middle East will require around 2, 340 airplanes worth USD 390 billion by 2029.

The Current Market Outlook from Boeing has estimated Middle Eastern air travel will grow by an average of 7.1 percent per year over the next 20 years, outpacing the region's projected economic growth rate of 4 percent over the same period.

"Middle East airlines have consistently led the rest of the world in traffic growth over the past two years and there is every indication that this trend will continue into the foreseeable future," said Boeing Commercial Airplanes VP (Marketing) Randy Tinseth while releasing the Outlook.

Buyers count for a huge share of Boeing’s twin-aisle backlog in the region which accounts for 31 percent of 777s and 15 percent of 787s on order. Presently, Boeing has a total of 47 customers in the region that operate an estimated 1,200 flights per day on 423 airplanes.

The twin-aisle aircraft will account for 50 percent of the region’s new airplane deliveries over the 20-year period-as compared to 25 per cent globally.

Large airplanes such as the Boeing 747 will account for 7 percent of the forecast demand. Single-aisle jets such as the Boeing 737 will account for 47 percent of the deliveries and regional jets will account for the remaining 3 percent.

"While we expect the global fleet size to double by 2029, Middle Eastern airlines are projected to expand their fleets by more than 150 per cent during the same period. This is a sure indicator that airlines in the region are planning for growth, while also modernising their fleets to improve operating efficiencies," Tinseth said.

With this, demand for trained pilots will also increase as the projected requirement stands at 32,700 personnel over the next 20 years. Boeing also forecasts demand for 44,500 technicians in the region during this time.

"Their well-coordinated growth and investment plans are already delivering results and Gulf airlines currently have an estimated wide-body order backlog of almost 140,000 seats, which is significantly higher than most other regions in the world," he said.

Airlines around the world will need 30,900 new airplanes through 2029, valued at USD 3.6 trillion.

The world fleet is projected to double from 18,890 to 36,300 airplanes total airplanes during this span.

As of April, 2011, Boeing had a backlog of 3,445 airplanes, 345 of which have been ordered by customers in the Middle East.

(Agencies)