ME aviation market to rise to $1 billion by 2012

Tag : Aviation
(MENAFN - Khaleej Times) Gulf Cooperation Council (GCC) countriesare instrumental to the continued expansion of the Middle Eastbusiness aviation market, which is the fastest growing in theworld, said one of the industry's leading players.

Ali Al Naqbi, founding chairman of the Middle East BusinessAviation Association (MEBAA)  the organisation behind the MiddleEast Business Aviation (MEBA) show  which takes place thisNovember, said that massive growth rates of 15-20 per cent perannum were predicted for the regional business jets market and thatits overall worth should top $1 billion by 2012.

Al Naqbi, who is currently on a regional road show to Saudi Arabia,Kuwait, Qatar and Bahrain, also said that the regional businessaviation market, which currently boasts a fleet of around 300aircraft comprised mainly of high-end category jets, would provedurable to the global financial downturn.

"Many of the GCC countries, such as Saudi Arabia and the UAE, haveblazed a trail for private charter aviation in the Middle East andwith significant investment in infrastructure to accommodate growthwe are seeing more and more companies increasing their presencehere to capitalise on this potential."

According to him, business aviation is set to account for 40 percent of the Middle East's overall aerospace market within fouryears.

However, he is adamant that even more needs to be done tocontribute to regional expansion and encouraged more localcompanies to join the Middle East Business Aviation Association the regional association established to represent the sector in thelocal and international aviation arenas  and attend MEBA 2008 atDubai Airport Expo, November 16-18.

Al Naqbi also added that many recent MEBAA members are companiesfrom North America and Europe, looking towards the Middle East toescape the uncertain financial climate in the West.

"The evolution of this show has been in parallel with that of theMiddle East business aviation market. The need for a regionalhigh-level, interactive sales and discussion platform is a keydriver for the development of the industry and will greatly benefitthe show's standing on the worldwide stage."

"It really is the must-attend for anyone wanting to get ahead inthis dynamic sector," said Alison Weller, Director, F&E Aerospace,who also attended the road show.