Airbus, Boeing see demand hike

Rivals Boeing and Airbus both anticipate a huge demand increase in the Middle East over the next 20 years for passenger and cargo aircraft. Airbus' latest Global Market forecast says carriers in the Middle East will need 1,921 new passenger and freighter aircraft between 2011 and 2030 valued at $347.4 billion. Boeing forecasts that airlines in the Middle East will need an estimated 2,520 airplanes worth $450 billion by 2030. The forecasts come as the region's carriers continue to surpass global air traffic and capacity growth rates. (Sources: Boeing, EADS/Airbus, 11/14/11) Gulf Coast note: Speakers at the Aerospace Alliance Summit in Sandestin, Fla., in September also projected growth. An Airbus official said there would be a demand worldwide for 26,000 new commercial aircraft; another from GE Aviation noted the company is opening new facilities in Mississippi and Alabama because of the backlog and expected growth of the industry.