The post-9/11 aviation downturn has led to a dramatic reduction in demand for maintenance, repair and overhaul services by the world's airlines. Ann Arbor, Mich.-based consultancy AeroStrategy estimates that the annual value of the MRO market for aircraft of more than 50 seats shrank by $2.5 billion between 2000 and 2002 to a total of $34 billion (ATW, 11/02, p. 60). Moreover, the impact is likely to be felt for many more years, according to the firm, which recently forecast that spending on engine overhauls alone will be reduced by around $20 billion through 2010 versus pre-downturn expectations owing to a combination of slower-than-anticipated traffic growth and aircraft retirements.
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