This hybrid event which took place at the new AAIS hybrid training premises on 1st April 2022 featured Mr David Stewart, Partner at Oliver Wyman. Tapping on his expertise and more than 35 years of aviation and consulting experience, David provided an analysis of the outlook for MRO and the forces that are set to shape the industry in the next decade.
In his presentation, David shared that global aerospace MRO spending was projected to recover to pre-COVID levels by 2023, and grow at a CAGR of 8.9% in the next 3 years, to surpass US$100 billion by 2026. He noted that recovery would be bumpy across regions, highlighting that the global fleet recovery will be led by the narrowbody aircraft, which are projected to make up about 64% of the fleet by 2032 versus 58% in January 2020.
David also shared useful insights specific to the Singapore aerospace MRO industry and took questions from in-person and online attendees on topics ranging from the Chinese aerospace market, manpower and talent and additive manufacturing, among others. We thank David for sharing his perspectives and analyses, and all in-person and online attendees for their active participation.
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