Current sentiment on the global economic crisis is that it has reached its lowest ebb and can only head for a full fledged rebound within the first half of 2009 that will continue to spur growth, driven primarily by a massive government fiscal stimulus package. Strong demand from emerging nations will be a factor in reviving the global economy. For the MRO industry, coming out of a tumultuous year in 2008, its economic outlook in 2009 in the short term and long term remains bullish.
According to Frost & Sullivan’s Asia Pacific Research Associate for Aerospace & Defense Practice Nagib Ramli, investments on MRO activity in the interim will hinge on a case by case basis, while studies suggest that the Asia Pacific MRO revenue forecast would decrease by 3% due to slowdown in air traffic.
Nagib adds that relative to its counterpart in most regions however, Asia Pacific will still record a comparatively higher growth stemming from all maintenance segments, the bulk of which will be driven by the engine segment. This is in part due to long term demand emanating from major economies in the Asia Pacific region that is expecting new aircraft deliveries from major OEMs such as Boeing and Airbus.
