Recent statistics from Airports Council International (ACI) reported that 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%.
Riding on this growth, airports across Middle East, particularly UAE is shaping up for to become an important supply chain hub for the global aerospace sector. These facts were highlighted at the on-going Aerospace Supply Chain Summit in Dubai.
Khalifa AlDaboos, managing director of the Dubai Aerospace Enterprise (DAE), said: “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.”
The two-day summit highlights opportunities coming up in the Middle East aerospace industry, which industry experts estimate to be valued at over US$45 bn.
Tahnoon Saif, vice president for aviation, DWC said: “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. There is also a 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.”