Report: Middle East to invest USD 86bn in aviation industry until 2015.

By bne IntelliNews December 22, 2009
According to a report by research company Frost & Sullivan, the aviation industry in the Middle East has expanded and is expected to grow further with region's airports set to invest USD 86bn as part of their large expansion projects until 2015. The figure is estimated to double after 2025, with major airports in the region pursuing their aim of becoming global hubs, the report said adding that the emerging dominance, coupled with an A 380 order backlog of 50% of global deliveries, will drive the aviation industry as a whole in the Middle East . Passenger traffic, cargo traffic and aircraft movement across major airports in the region is expected to grow at a compound annual growth rate of 8.7, 8.5 and 4.8% respectively from 2008 to 2015, the report said.

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