Middle East’s aviation sector may recover to pre-COVID size by 2023

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  • Long-term growth of the Middle East global commercial fleet is forecast to be 4.2% CAGR

  • A survey suggests that MRO demand to recover in 2022

Recent forecasts by the consultancy Oliver Wyman predict that the Middle East global commercial fleet is forecast to have long-term growth of 4.2 percent CAGR, recovering to its pre-COVID size in 2023, said local reports on Tuesday.

A survey conducted shows that the majority of respondents expect MRO (Maintenance, Repair and Operations) demand to recover in 2022.

“Airlines and MROs have shown incredible versatility to mitigate the effects of the pandemic,” said Michael Wette, Partner at Oliver Wyman at the opening session of the vMRO that began Tuesday at Dubai World Trade Center (DWTC), welcoming industry leaders, buyers and specialists from across the Maintenance, Repair and Overhaul (MRO) segment of the aviation industry.

“The smaller fleet that emerges in 2022 will be more lean and efficient. However, labour availability will soon return as a critical challenge for MRO,” Wette added.

During the busy 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. The contract will enable Turkish Technic to reinforce its efficiency, reliability and access to a global network of parts and component services.

Joramco and VD Gulf (UAE) also signed a framework agreement on MRO cooperation. Under 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, Joramco CEO said: “We are excited to work hand in hand with VD Gulf to extend our support and commitment to our valued customers across the globe. 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, Inc. SR Technics, and Turkish Technic.

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