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Boeing: Middle East to Require 3,350 New Airplanes Over 20 Years

Visitors are seen during the Dubai Airshow in Dubai, UAE November 13, 2017. REUTERS/Satish Kumar
Visitors are seen during the Dubai Airshow in Dubai, UAE November 13, 2017. REUTERS/Satish Kumar
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Boeing: Middle East to Require 3,350 New Airplanes Over 20 Years

Visitors are seen during the Dubai Airshow in Dubai, UAE November 13, 2017. REUTERS/Satish Kumar
Visitors are seen during the Dubai Airshow in Dubai, UAE November 13, 2017. REUTERS/Satish Kumar

In a report published on Monday, Boeing said the Middle East is going to need 3,350 new airplanes during the upcoming 20 years worth USD730 billion.

Major General Staff Pilot Ishaq Saleh al- Balushi, head of the Executive Directorate of Industries and Development of Defense Capabilities at the Ministry of Defense, announced on the sidelines of Dubai Airshow sealing eight deals worth AED3.247 billion (USD883 million) encompassing five local companies and three international companies.

Balushi stated that Global Aerospace Logistics contracted to provide technical and administrative services as well as logistic support to helicopters for the best interest of armed forces. Also a contract was made with Advanced Integrated Systems to provide logistical support maintenance and services to reconnaissance aircraft.

The first day witnessed the signing of 11 deals worth AED6.5 billion for the Ministry of Defense – the total signed deals amounted to over AED9.789 billion (USD2.6 billion) in the two days.

Further, Dubai Aerospace Enterprise Capital signed a deal with Gulf Air to lease it five Boeing 787-9 Dreamliner aircraft, which are expected to be added to Bahrain national carrier fleet in 2018. The company declared that the aircraft will assist Gulf Air in expanding its network and supporting its future growth demands on the long-run.

Gulf Air deputy CEO, Captain Waleed Abdulhameed al-Alawi, stated: “Our agreement with Dubai Aerospace Enterprise sees Gulf Air gear up for a landmark moment in our history as we welcome five Boeing 787-9 Dreamliners in the coming months. The incoming aircraft represent an important step in our strategic direction towards furthering Gulf Air’s fleet modernization process, enhancing passenger comfort and broadening our network as we look to strengthen our presence across the globe.”

In addition, Air Arabia and Air Lease Corp announced on Monday a leasing agreement for six Airbus A321neo long-range aircraft from at the Dubai Airshow.

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Saudi Arabia Strengthens Role of SMEs as Key Driver of Economic Growth

A building affiliated with the General Authority for Small and Medium Enterprises (Monsha’at website)
A building affiliated with the General Authority for Small and Medium Enterprises (Monsha’at website)
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Saudi Arabia Strengthens Role of SMEs as Key Driver of Economic Growth

A building affiliated with the General Authority for Small and Medium Enterprises (Monsha’at website)
A building affiliated with the General Authority for Small and Medium Enterprises (Monsha’at website)

Saudi Arabia’s small and medium enterprises (SMEs) are experiencing unprecedented growth, positioning themselves as a vital pillar in the Kingdom’s efforts to diversify its economy and increase private sector participation, which are core goals of Vision 2030.

According to the Q1 2025 report by the General Authority for Small and Medium Enterprises (Monsha’at), commercial registrations surged 48% year-on-year, reaching 154,640 new registrations in the first quarter alone. Active registrations climbed to 1.68 million, reflecting a 6% annual increase.

As part of the Kingdom’s accelerating digital transformation, over 41,000 active businesses now operate in e-commerce. Notably, 45% of active commercial registrations are women-owned, highlighting growing female participation in the national economy.

Support from Monsha’at has been crucial to this expansion. Nearly 9,850 companies benefited from SME support centers, and over 1,400 received assistance from innovation hubs. The flagship Tomouh (Ambition) program, launched in 2017, has played a central role in financing high-growth companies, facilitating 34 listings on the parallel equity market (Nomu) with a combined market value of $450 million in 2025 alone, from a total supported portfolio of $6.6 billion.

To date, Tomouh has funneled more than $15.7 billion into startups and SMEs, cementing Saudi Arabia’s status as an entrepreneurial hub.

Flexible Financing and Government Support

In Q1 2025, the SME Bank expanded debt-based crowdfunding and launched a new “agency model” in partnership with fintech platforms. This initiative provided flexible financing between $13,300 and $266,000, disbursing $23.4 million in its initial phase, with a target of $64 million.

The Kafalah loan guarantee program also saw major expansion, issuing $3.7 billion in guarantees to 5,346 SMEs, facilitating total funding of $4.8 billion, a 17% rise from 2023.

Craft industries also surged in 2025, driven by global demand for cultural goods, e-commerce growth, and initiatives like “Made in Saudi” and “Year of Handicrafts,” which improved artisans’ access to finance, training, and global markets. The global handicraft market reached $1.22 trillion in 2025.

Sector Breakdown and Impact

Spokesperson Badr Al-Qadi told Asharq Al-Awsat that Riyadh accounted for 39% of commercial registrations, followed by Makkah (17%) and the Eastern Province (16%). Key growth sectors include manufacturing, fintech, tourism, entertainment, health, and e-commerce.

Initiatives like Tomouh, the Nawafeth app for easy access to support services, the Jadeer procurement tool, and Monsha’at Academy for skills development have further empowered entrepreneurs.

By end-2024, SMEs employed 7.86 million people, surpassing employment targets. Their contribution to GDP hit 21.9% in 2023, exceeding the 20.2% target - even amid oil production cuts - and attracting 30% of regional venture capital investment.

With robust funding channels, digital integration, and inclusive policies, Saudi Arabia is advancing steadily toward making SMEs a cornerstone of its national economy and Vision 2030 strategy.