Result of lower spends over the next two years
Oliver Wyman has released its new Fleet & Maintenance Repair Overall (MRO) Forecast which includes new data on the impact of COVID-19 including recent fleet groundings, aircraft retirements, production rates, and other announcements for the commercial aviation industry.
One of the Key findings is that over 70% of the global commercial fleet will be parked at some point in 2020. Of this, most of the pre-crisis commercial fleet (1395 aircraft) in the Middle East is parked as of now.
For the Middle East aviation aftermarket, this means a $9.7 billion reduction in MRO spend over the two years of 2020 and 2021. Of this 66% in 2020 and rest in 2021.
Get more data on the COVID-19 impact interactive dashboard, which is updated weekly and reveals the near-term impact of COVID-19 on the MRO demand in a deeper fashion.
You can also change inputs to see impact by region and aircraft class.