The Middle East global commercial fleet will be leaner and efficient when it recovers to its pre-pandemic size in 2023, aviation experts said at an industry show.
The Gulf region’s leading conference and exhibition for commercial aviation, MRO Middle East commenced last day at Dubai World Trade Center (DWTC), welcoming industry leaders, buyers and specialists from across the Maintenance, Repair and Overhaul (MRO) segment of the industry.
In the opening session of the event by Michael Wette, Partner at Oliver Wyman highlighted the continuing challenges the aviation sector faces but also revealed some positive signs and predictions.
Recent forecasts by the consultancy predict that the Middle East global commercial fleet is forecast to have long-term growth of 4.2 percent of Compound Annual Growth Rate (CAGR), recovering to its pre-COVID size in 2023. A survey conducted shows that the majority of respondents expect MRO demand to rebound in 2022.
“Airlines and MROs have shown incredible versatility to mitigate the effects of the pandemic. The smaller fleet that emerges in 2022 will be more lean and efficient. However, labor availability will soon return as a critical challenge for MRO,” Mr. Wette stated.
Industry experts expect the region’s aviation industry to fully recover by the third quarter of 2024 as it is on track to stage a rebound later this year. However, they said global regulations on COVID-19 restrictions, passenger confidence and flexible airline propositions will be crucial to sector recovery.
On the opening day of MRO Middle East, Boeing and Turkish Technic announced a renewed tailored parts package agreement, extending the MRO provider’s current contract by three years.
Dubai Aerospace Enterprise (DAE) owned Joramco and VD Gulf (UAE) also signed a framework agreement on MRO cooperation. As part of the agreement, both independent MROs aim to expand their existing capabilities and capacity, optimize their synergies for a one-stop-shop upscaled customer experience, in addition to encouraging and promoting sustainable development for both organizations.
Jeff Wilkinson, CEO of Joramco, commented, “This successful collaboration shows that Joramco and VD Gulf are both trusted MRO companies and will form the future of the MRO industry in the region to adapt to customers’ needs.”
Other exhibitors at this year’s MRO Middle East include Etihad Airways Engineering, Jordan Aeronautical-Systems Company, Liebherr Middle East, Mohammed Bin Rashid Aerospace Hub, Sanad, SR Technics, and Turkish Technic.