Dubai Airshow 2019 bullish on regional demand

The Dubai Airshow, the Middle East's biggest aviation event, opened on Sunday at Dubai World Central amid bullish forecasts of a steady upswing in the region's passenger traffic and new aircraft demand over the long term.

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai; and His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, inaugurated the biennial five-day showcase for leading commercial and military aviation companies targeting a regional market with potential value of $725 billion over the next two decades.

Present at the opening were Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai; Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs; Sheikh Ahmed bin Saeed Al Maktoum, President of the Dubai Civil Aviation Authority, President of Emirates Airline and Chief Executive of the Emirates Group, and Chairman of the event's organising committee; Sheikh Mansour bin Mohammed bin Rashid Al Maktoum; Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance; Mohammed bin Ahmed Al Bowardi, Minister of State for Defence Affairs; Lt-Gen Hamad Mohammed Thani Al Rumaithi, Chief of Staff of the Armed Forces; and a number of Sheikhs and senior officials.

A deal by Boeing and Biman Bangladesh Airlines for two 787-9s aircraft, which is listed at $292.5 million apiece, was the only announcement on the opening day. Aviation experts are, however, optimistic that more deals by the region's airlines would be announced given the projected 5.1 per cent annual traffic growth and the massive requirement of 3,130 new aircraft for the region over the next two decades.

For the UAE, the outlook is even brighter with an annual traffic surge of 5.8 per cent and a potential deployment of a total 1,739 aircraft in the next 20 years, up from the current size of 630 aircraft.