Embraer estimates that airlines in Africa and the Middle East will take delivery of 530 new jets in the 70 to 130-seat segment over the next 20 years, worth $25 billion.
This represents 8% of the worldwide demand for the segment in the period, the company said, adding that it is estimated that 65% of the total new deliveries will be added to support market demand growth while 35% will replace ageing retiring aircraft.
Forecasts indicate that 17 of the world’s top 30 fastest growing countries in 2014 will be in the Africa and Middle East region. Air transport in Africa and the Middle East will steadily grow 5.3% and 7.1% per annum over the next 20 years, respectively – above the world average of 4.8% -, more than tripling the air traffic to, from, and within the region, Embraer said.
“The 70 to 130-seat jets will play a key role to support the intra-regional development in Africa and the Middle East, not only for its ability to explore new markets, but also because of the possibility to improve load factors with greater flexibility,” said Paulo Cesar Silva, President & CEO, Embraer Commercial Aviation.
Currently, 60% of the larger single aisle jet flight departures among African and Middle Eastern destinations have up to 110 passengers on-board on average, resulting in low load factors. The region is mostly composed by low- and mid-density markets. Some 88% of all markets have demand densities of up to 300 passengers daily each way, and approximately 50% of them are not served nonstop.