Hong Kong, Sept. 12 -- Hibernation of commercial aircraft across the globe from COVID-19 has changed the outlook for aviation's MRO sector, Oliver Wyman's latest Global Fleet and MRO Market Forecast reports.
A July forecast of the sector for the next two decades, updated from February, showed the number of aircraft in service in the Asia-Pacific had fallen by 61%, to 3,618 aircraft.
Asia-Pacific airline fleets, which were operating 8,689 aircraft before the pandemic, now have approximately 5,334 of the region's collective airline fleet in storage, Oliver Wyman said.
It said the "baseline scenario" for the global fleet was that it would remain below pre-COVID-19 levels until 2023, which would result in a significant reduction in MRO servi...