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Many
of the world’s leading maintenance, repair and overhaul (MRO) businesses have started to sign up to attend the Asian Aerospace International Expo
and Congress 2007, as the regional MRO market is forecast by a leading global consultancy to reach US$13 billion annually within five years.
Lufthansa
Technik, AMECO Beijing, Guangzhou Aircraft Maintenance Co Ltd, Heico Corporation, and Hong Kong Aircraft Engineering Company
Limited (HAECO), among others, have already signed up for the event, with other major exhibitors expected to finalise their space requirements for
participation after meetings with the event organisers during the Farnborough week.
Analysts acknowledge the significant potential in the Asian aviation market due to tremendous growth in air traffic characterised by the proliferation
and emergence of new Low Cost Carriers (LCC) in the region and the increase in domestic and international fleet movements and fleet
utilisation.
In a survey of the Asia Pacific MRO market, leading international consultants, Frost & Sullivan, said MRO providers needed to make use of lower
costs and form local joint ventures and partnerships to take advantage of the opportunities available. Frost & Sullivan’s report on the market
warned that international companies will fail to capture a large share of this market unless they use local resources.
Growth expectations in the MRO market are supported with industry forecasts just issued by Boeing, which has also just signed up to participate at
Asian Aerospace 2007.
The major manufacturer
forecasts a $2.6 trillion market for new commercial airplanes over the next 20
years.
On a delivery-dollar basis, the largest market is projected to be the
Asia Pacific region, with 36% of the $2.6 trillion total - a result of the
demand among Asian carriers in that market for more twin-aisle airplanes.
"We're forecasting a continued strong long-term demand for new airplanes over the next 20 years," said Boeing Commercial Airplanes Vice
President of Marketing Randy Baseler.
The MRO market will be a major focus at the next presentation of Reed Exhibitions’ flagship international aerospace industry event, which will be
held from September 3-6, 2007 at the brand new ultra-modern 70,000 square metre AsiaWorld-Expo complex, which is adjacent to and integrated
with the Hong Kong International Airport (HKIA).
A high-level Congress will form the centrepiece of the event, bringing together major players from across aerospace and aviation to discuss the
exciting opportunities the region’s fast-growing market will deliver. Organised in partnership with Flight International, the world’s longest
established name in aviation media, the Congress will cover key issues ranging from the growing fleet and MRO market, through to investment in
training and infrastructure."
Clive Richardson, Senior Vice President Reed Exhibitions Aerospace & Defence Group,
said, “The potential of the regional market for more and newer commercial aircraft including business jets is remarkable, and inevitably will significantly boost MRO requirements. The sheer population
size necessitates major procurement for the foreseeable future. Hong Kong is not only the perfect gateway to the Chinese market, it is a
highly-connected aviation hub with direct access to other large emerging markets like India, Thailand and the Middle East.
“We look forward to providing the ideal exhibition and congress platform to support the significant regional growth expected in the MRO market.”
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