The MRO Europe 2019 conference, of which Air & Cosmos is a partner, opened in London on October 15. One of the highlights of the day was a ten-year market forecast conference.
A special event for the 2019 edition of MRO Europe in the large congress center ExCel London, in the south-east of the British capital. Although some stands were still being set up, this did not stop visitors from attending a conference day in the “Platinum Suite ”. The most awaited conference was the MRO Market Growth Forecast in ten-year, held by Martin Harrison, vice-president of ICF (Companies, Aerospace and MRO) and David Stewart, expert of transportation consulting firm CAVOK / Oliver Wyman.
“About 55 to 60 percent of aircraft deliveries for the next ten years will allow companies to grow, 40 to 45 percent of shipments will be made for aircraft replacements”, says Martin Harrison. “The global fleet is expected to increase by 1,000 aircraft per year, with a European fleet expected to grow at an annual rate of 3%.”
Essentially retaking a recent study by Oliver Wyman, David Stewart says: “Traffic demand is expected to remain robust and therefore increase the overall fleet of aircraft. The global fleet is expected to increase by approximately 12,000 aircraft, to a total of nearly 38,000 aircraft, by 2028-2029. The share of single aisle aircraft is expected to rise from 56% in 2018 to 66% in 2028, thanks to their operational costs, range and capacity, which now allow them to reach a territory that was once exclusively for wide-body aircraft. The MRO market should logically benefit from this increase in the global fleet and we estimate that the global maintenance market should increase from $77.4 billion in 2018 to nearly $116 billion in 2028-2029.”