March 6, 2024
2 mins read

Middle East’s Aircraft Service Market Set to Skyrocket

The Middle East boasts five of the globe’s largest aviation hubs, such as Dubai and Abu Dhabi, collectively handling over 10,000 long-haul travelers every day…reports Asian Lite News

The commercial aircraft services market in the Middle East is projected to more than double by 2042, reaching a value of $28 billion from the current $12 billion, According to Airbus’ latest Global Services Forecast (GSF).

This expansion, growing at an average annual rate of 4.4%, surpasses the global average growth of 3.6%.

With five of the world’s largest aviation cities located in the Middle East, including Dubai and Abu Dhabi, which together serve more than 10,000 long-haul passengers daily, the region is poised for substantial growth. Airbus anticipates 3,120 new passenger and freight aircraft deliveries over the next 20 years.

Driven by the rise in annual air traffic – set to increase by 4.6% in the Middle East – and the requirement for more digitally-enabled and connected aircraft, the growth in demand for services will be reflected in sustainable solutions implemented across all phases of the aircraft lifecycle including training, aircraft modernisation as well as fleet maintenance.

Airbus expects the market for ‘Maintenance’ to grow from US$ 10 billion to US$ 23 billion. Meanwhile the market for enhancements and modernisation is set to register the biggest average annual growth (5.5%) across the categories between 2023 and 2042, from $1.3 billion to $3.6 billion. This is driven specifically by cabin and system upgrades, which will be in particularly high demand until 2030 as part of fleet modernisation.

The market for training and operations is expected to double in 2042, reaching $1.6 billion. Recognising the sector’s significant progress and strength of the Middle East’s economy (GDP) – forecast to expand by 2.3% annually – regional governments are also investing in localising MRO (maintenance, repair and overhaul) services by developing infrastructure and enhancing job opportunities, education and training.

As a result, Airbus anticipates a further 208,000 highly skilled professionals in the Middle East over the next 20 years, comprising 56,000 new pilots, 52,000 new technicians and 100,000 new cabin crew members.

Offering material, engineering and maintenance solutions in the region, Airbus is a major player in the industry, with customers who trust its OEM expertise in enhancing aircraft availability through flight hour services (FHS), across various programs.

Taking place from 5 – 6 March 2024 at Dubai World Trade Centre (DWTC), Airbus executives will be highlighting some of the key trends in the industry and latest opportunities.

Among the speakers, Gregoire Demasures, Head of Upgrade Marketing and Sustainability Solutions at Airbus, will take the stage to delve into the topic of sustainability within the MRO domain. Scheduled for March 6 at 1:50 pm, Demasures will explore the current landscape and future prospects of sustainability initiatives in the industry.

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