What Happened
Global Aviation Faces Supply Chain Bottlenecks And Aging Fleets
The global aviation industry is facing a significant shortage of aircraft, with a backlog of 17,000 planes and a production pace that would take over 12 years to clear. As a result, airlines are keeping jets in service longer, flying them harder, and spending more on maintenance and parts. This trend is expected to continue until at least 2030, with supply chain problems restricting aircraft production. The industry’s maintenance, repair, and overhaul (MRO) demand is forecast to reach $193 billion by 2036, according to Oliver Wyman. This article was first reported by an unknown source.