Since 2008 we have gone from one crisis to another and the near future is once again uncertain thanks to the unresolved European debt crisis and increasing tensions with Iran raising oil prices. Therefore, the next few years will bring a lot of challenges for both the airline and the MRO industry.
In our 2012 edition of the VZM Commercial Aviation & Maintenance Market Outlook we discuss the latest economic developments with Europe holding the key for triggering another recession, the risk of tensions further spiking the ever-rising oil prices and the uncertain health of airlines led by North America highlighted by bankruptcies and mergers. IATA expects a slowing global airline market with falling profits, possibly turning into serious losses again. Long-term the MRO is clearly a growth market, but for the short-term we see a flat underlying trend as the shrinking North American market off-sets volume growth in Asia andMiddle East. With the delivery of the first 787 and 747-8 aircraft, we are entering a new era for the MRO industry with increased outsourcing and consolidation. Airlines will need to muster all their negotiating leverage to ensure in-service costs are capped/controlled.
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A hardcopy is available on request.