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.

ALSO READ: Markets Shift Gears after Volatile Week

Previous Story

India’s Bloomberg Bond Index Entry to Attract $5B+

Next Story

Congress Condemns Ally DMK Leader’s Remarks

Latest from Arab News

Virgin Atlantic Launches Heathrow–Riyadh Route

With Riyadh rapidly evolving into a dynamic hub for commerce, tourism, and cultural exploration, the new route strengthens the city’s position as a gateway to the Kingdom’s diverse offerings King Khalid International

Modi Strengthens Defence, Energy Ties in Saudi

Both sides agreed to hold the next Strategic Partnership Council meeting at a mutually convenient date….reports Asian Lite News India and Saudi Arabia have expanded their bilateral Strategic Partnership Council by adding

Muslim World League Condemns Terror in Pahalgam

Prime Minister Modi commended the firm stand of the Muslim World League against extremism, terrorism and violence….reports Asian Lite News The Muslim World League has condemned the horrific terror attack in Pahalgam,

Pahalgam attack: Modi Cancels Saudi Plans

Sources said that the Prime Minister also skipped the official dinner hosted by Saudi Arabia and has decided to cut short his visit…reports Asian Lite News Prime Minister Narendra Modi will shorten

Modi Begins Saudi Visit

This will be Prime Minister Modi’s first visit to the historic city of Jeddah where the second meeting of the Strategic Partnership Council (SPC) will also take place…reports Asian Lite News Prime
Go toTop

Don't Miss

Global Power City Index: Dubai Makes History

Dubai has been ranked among the top 10 cities in

Middle East ranks second in data breach losses

As outlined by the study, the global average cost of