MRO Asia-Pacific: the latest figures and trends for the region |
| Romain Guillot |
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02 OCT 2019 | 314 words
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© Le Journal de l'Aviation - All rights reserved |
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The 19th MRO Asia-Pacific exhibition which was being held in Singapore last week provided the opportunity to update the maintenance sector perspectives for the most dynamic region in the world. Oliver Wyman (Marsh & McLennan) and Alton Aviation Consultancy agencies presented their latest forecasts for the Asia-Pacific region during a conference on 24th September.
According to Brian Prentice (Oliver Wyman), the upward trends are continuing, even if the major questions which may legitimately be asked are for how long can this growth continue and whether the relationship between the development of the middle class and the growth in air transport will remain on the same level.
He also noted that Asian airlines' profits have not been affected by the fluctuations in fuel prices or the increases in labour costs over the last five years. The region's fleet will continue its growth at an average annual increase of 6.2% over 10 years to reach 15 383 aircraft (including regional turboprops), which will take MRO spending to over 42 billion dollars by 2029, more than one third of worldwide expenditure (116 billion).
Brian Prentice also reminded those present that 80% of deliveries in the region will simply be used to develop additional capacities and that the share of the single-aisle fleet will continue to progress, from 65% today to 72% within ten years.
However, Joshua Ng (Alton) reminded that the IATA had revised its profitability forecasts downwards for the Asia-Pacific region's operators to 6 billion dollars, compared with the 10.6 billion announced by the association at the start of the year, a consequence of the effects of the trade war between the United States and China and its repercussions for all of the continent's economies.
He also observed the depreciation in the price of the dollar in relation to the region's major currencies (except for Thailand), which means an increase in fuel prices and MRO costs invoiced in dollars.
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Romain Guillot
Chief editor
Cofounder of Journal de l'Aviation and Alertavia
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