With 90 million passengers travelling across the Middle East market (based on IATA and Boeing statistics), which is expected to grow at 8% per year for the next 10 years, an expansion boom is under way with several mega airport projects in the pipeline to cater to this voluminous growth. This growth is next only to China's 9%, while the world average hovers around 4%. Full service airlines have lined up aggressive growth plans, the low cost carrier model is expanding and the region has increasing ambitions to become a global provider across the supply chain from aircraft leasing, airport management and construction to maintenance and education. At the two-day aviation summit being hosted by the Center for Asia Pacific Aviation (CAPA) in Mumbai, experts revealed that the airports in the Middle East region have lined up plans for $42 billion worth of capital expenditure over the next 10 years. Istithmar, CEO Muneef Tarmoon says, "Over the last 10 years, the market has grown about 13%. But in the last five years, it has grown by 15%."
