By TTA Blog
There’s an expression in French that goes ”impossible n’est pas français,” which best captures the sense of optimism coming out of last week’s Paris Air Show at Le Bourget – and the consensus that “nothing is impossible.”
After attending the 54th Paris Air Show, the oldest and most important exhibition in the world, I for one came away confident about the future of the aviation industry – the bright spot being a palpable boosting-up of relations between the United States and Europe. It appears that we drifted apart during the past few years, but I am heartened by a renewed interest in collaborating on the aviation front.
In fact, during the show, I personally engaged in high-level conversations with many industry leaders. They’re seeing a major shift in potential future business development from China – big over the last two decades, for instance – to a hot new focus on Indian.
And this is what the Paris Air Show is all about and why I am so glad I was there – “at the table” if you will – on the cusp of marketplace trends, getting a clearer sense of what’s ahead, and establishing partnerships for future collaborations.
There will be excellent opportunities for service providers such as MROs in doing robust business in the coming years.
I also believe there will be excellent opportunities for service providers such as MROs in doing robust business in the coming years. This is another positive thread that I picked up at the Air Show, driven primarily by Boeing’s impressive projection that during the next two decades, airlines across the globe will add a total of 42,595 jets valued at about $8 trillion. Just within the past week at Le Bourget, Airbus and Boeing collectively received aircraft orders or commitments for upwards of 1,100 new jets
That includes a record-breaking order of 500 single-aisle, narrowbody jets for IndiGO, the largest airline in India that carries 55 percent of all passengers within the Indian subcontinent. Other air show orders also came from AirIndia, just months after that recently privatized carrier signed letters of intent with both Boeing and Airbus for 470 new jets. As an aerospace marketplace, India is clearly booming.
Here are some pertinent factoids I learned: India’s economic growth is around 5 or 6 percent annually, plus it has the world’s largest population and a relatively young median age of 28 years. In addition, the Indian government from the very top seems highly supportive of the growth in aviation.
TTA is front and center in keeping the classic platforms of private aviation and regional carriers in tip-top shape.
Again, my sense of things is that the aviation outlook looks very positive. Strong growth is anticipated over the next few decades. And as manufacturers focus on OEMs for their new aircraft platforms, experienced, highly qualified MROs such as Thrust Tech Accessories are even more important to private aviation customers and regional airlines in maintaining their classic platforms in tip-top condition. I’m happy to say that we’re visibly front and center doing just that day after day.
