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Aviation sector in ME to outperform others

04 Mar 2014

(MENAFN) A report by Alpen Capital shows that air passenger and air cargo traffic in the Middle East is expected to outperform other regions in the period between 2012 and 2032, Saudi Gazette reported.

Air passenger traffic in the Middle East is expected to grow at annual CAGR of 6.7 percent, while air cargo traffic is expected to expand by a compounded annual growth rate (CAGR) of 7.2 percent annually.

Air passenger traffic in the UAE is expected to grow at a CAGR of 6.6 percent, while Saudi and Omani passenger traffic to increase by a CAGR if 6.9 percent and 7.5 percent, respectively, between 2012 and 2017.

Around 2,610 aircrafts are expected to be delivered in the region between 2012 and 2032 at a total value of USD550 billion, pushing total fleet size up by CAGR of 4.7 percent.

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