DWC Summit to Highlight Opportunities in the Middle East's USD45bn Aerospace Market

Dubai, United Arab Emirates – 07 December 2014: Dubai World Central (DWC), the world’s first purpose-built aerotropolis designed around the Al Maktoum International Airport – the largest airport when completed – will host the first Aerospace Supply Chain Summit from December 10 to 11, 2014, at DWC Headquarters.

The event, held in collaboration with Arabian Reach FZ LLC, will be attended by industry leaders and top-level executives from across the globe. It will focus on various opportunities and challenges available across the region’s rapidly expanding aerospace supply chain, as well as in its defence sector.

Outlining the significance of the event, Tahnoon Saif, Vice President of DWC’s Aviation District, said: “As per the International Civil Aviation Organization, the regional aerospace market is currently worth around USD45 billion, fuelled largely by the rapid growth of its airline industry. Furthermore, as per the 20-year passenger growth forecast released by the International Air Transport Association (IATA), the Middle East will grow strongly (4.9%) and will see an extra 237 million passengers a year on routes to, from and within the region by 2034. We believe this presents industry players with exciting opportunities as well as challenges.”

Referring to a report by Boeing, Saif added: “Over the past five years, the Middle East has recorded the highest annual passenger growth in the world at 7%, with cargo growth at 10-11%. To cater to such demand, the region would need some 2,500 new aircrafts by 2025, at least 55,000 engineering and maintenance personnel, plus 62,000 pilots over the next 20 years.

“DWC is proud to lead this trajectory of momentous growth. Our Aviation District is a key component of our endeavours since it is already emerging as a significant hub that creates industry clusters that cater to the needs of our business partners. The District is a powerful contributor to the building of a knowledge-based economy since it brings in the technology, facilitates knowledge transfer and promotes educational institutions. The Aerospace Supply Chain Summit is in line with our vision to move forward into the future,” Saif added.

Raj Menon, General Manager of Arabian Reach FZ LLC, said the region offers a fertile ground for market players. Currently, there are 600 registered aircraft operators in the Middle East, 12 active MRO (maintenance, repair and overhaul) service providers for third parties, and over 40 FBO (fixed-base operator) companies.

“Ensuring an effective overall supply chain is critical in making sure that the aerospace industry stays afloat in this challenging business climate,” Menon said. “We are confident that the summit will serve as an ideal platform for delegates to build and maintain successful partnerships so they can overcome the challenges and risks associated with entering new markets from a supplier’s perspective.”

Among the expected attendees at the Aerospace Supply Chain Summit include original equipment manufacturers (OEMs), suppliers, and airline executives, as well as industry experts who will discuss future perspectives and suggested action plan for the aerospace industry.