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Middle East airports poised to become global aerospace supply chain hubs

BEIRUT | iloubnan.info, with agencies - December 13, 2014, 08h21
Airports across the Middle East, particularly UAE is shaping up to become important supply chain hub for the global aerospace sector, according to industry players during the first day of the Aerospace Supply Chain Summit, held at the Dubai World Central (DWC) on Wednesday (December 10).
Keynote speaker Khalifa AlDaboos, Managing Director of the Dubai Aerospace Enterprise (DAE), says current trends point to a tectonic shift in the market, where emerging economies such as the Middle East are playing a major role in transforming the global aerospace landscape.

“GCC and Middle East airports are leveraging their strategic geographic location to become global supply chain hubs for emerging markets. And recent passenger traffic performance in the region reflects this uptrend,” said AlDaboos.

According to Airports Council International (ACI), worldwide airport passenger numbers increased by 4.4% to 5.7 billion in 2012, registering increases in all six regions across the globe. However, Middle East outperformed global average, recording an increase of 13%. The Middle East is also benefiting from the growing middle class population in emerging economies, who have more disposable income to travel and explore destinations outside their home markets,” added AlDaboos.

The two-day Aerospace Supply Chain Summit, which is organised by DWC and Arabian Reach FZ LLC, highlights the myriad of opportunities coming up in the Middle East aerospace industry, which industry experts estimate to be valued at over USD45 billion.

“The Middle East is one of the world’s fastest growing aviation markets, mainly due to the robust growth in the commercial aerospace sector. Regional carriers have shown impressive performance even amidst the regional and global economic challenges,” said Tahnoon Saif, DWC’s Vice President for Aviation.

DWC is a strategic initiative of the Dubai Government that aims to open new possibilities in the global aviation industry. The Aviation District, in particular, attracts major industry players from all over the world in line with DWC's master-plan as the first purpose-built Aerotropolis, which significantly optimizes the business potential of all aviation services particularly it brings together world-class expertise and leading-edge technology to offer best-in-class MRO (Maintenance, Repair and Overhaul) services. This aviation district will provide support for general aviation, aircraft manufacturing component fabrication, MROs, helicopter modification & maintenance, training and other related aviation businesses will be held at the DWC

Saif added that passenger traffic in the region has been buoyant, with the Middle East maintaining a clear lead over other markets worldwide with a 10.3% increase in October of 2014, the International Air Transport Association (IATA) reported.

This widening shift in the aerospace market has been documented by various industry observers, highlighting the prediction that North America and Europe’s share of air traffic revenue passenger kilometres (RPK) will drop by 32% between 1991 and 2031, while shares of the Middle East, China and Asia Pacific are expected to rapidly grow.

Raj Menon, General Manager of Arabian Reach FZE LLC, said this interesting shift in figures offers a promising value proposition for industry players in the aerospace supply chain, who are keen to explore the Middle East market.

“Air travel and logistics are directly tied to their respective markets’ economic performance and Middle East airports, especially those in the GCC, have weathered several storms in the past, which have made them even stronger and valuable as gateways,” he said.

Menon added that the Aerospace Supply Chain Summit, which will run until today (December 11), offers a unique platform for companies to strengthen existing partnership or build new relationship with industry players operating within and outside the Middle East market and the 2ndedition of this event will be held on 7-8thof October 2015 in Dubai, United Arab Emirates.

For more details about the Aerospace Supply Chain Summit, please visit: http://aerosupplychain.com/.
Tags
#Business, #Aerospace_industry
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