The migration of MRO activities to APAC and its growing
fleet size offers opportunities for accelerated growth, finds Frost &
Sullivan's Aerospace & Defense team
NEWS PROVIDED BY
04:08 ET
BANGKOK, Sept. 8, 2017 /PRNewswire/ -- The
Thailand Aerospace sector is expected to grow rapidly due to expansion in its
fleet size and the rising trend of the migration of Commercial MRO activities
to the APAC region, creating new job opportunities. The aviation industry in Thailand has
seen the emergence of a number of new players over the past few years and the
commercial MRO sector currently has around 3,750 technicians and engineers.
"As demand in the Thailand aerospace
industry continues to grow rapidly, the supply side of the industry will have
to expand in order to cater to this increasing demand. Thailand's key
to success in developing its aerospace manufacturing and MRO industry is its
availability of skilled labour. MRO activities are especially reliant on
skilled labour as certification and qualifications are a prerequisite for MRO
personnel to conduct maintenance and repair activities," said Nishant
Dey, Consultant at Frost & Sullivan.
He continued, "A total of 7,700 new technician and
engineer jobs are expected to be created in the commercial MRO space over the
20-year period from 2017 to 2037. While approximately 4,000 people will be
employed in the sector by the end of 2017, the number is forecasted to touch
10,000 by 2035. About 90% of these new jobs are for technicians while engineers
make up the remaining 10%."
Frost & Sullivan in collaboration with the Civil
Aviation Authority of Thailand (CAAT) will be hosting a complimentary
breakfast briefing on growth opportunities in Thailand's aerospace
industry on the 19thSeptember 2017 in Bangkok,
Thailand from 8.30am – 12.00pm. To attend the briefing,
please register online at: https://goo.gl/xomzqA
In the aerospace manufacturing domain, Thailand's expertise
is currently in Tier 3 and Tier 4 manufacturing for original equipment
manufacturer (OEMs). The total export value of this industry was around US$
1437.29 million in 2015. At the end of 2016, the aerospace manufacturing
sector in Thailand employed about 7,976 people.
"While this sector is forecasted to grow at a more
subdued pace than the MRO sector, job creation in the manufacturing sector is
expected to reach 10,395 over the next 20 years. The total number of new jobs
created is estimated to be around 2,419 in the period from 2017 to 2037,"
said Nishant.
Aerospace MRO and manufacturing are highly global
industries and migration of MRO services or manufacturing of parts can take
place anywhere in the world where capacity is developed with adequate
certifications and quality control in place in collaboration with global
players.
"Thailand can reap the benefits of this global
supply chain in the aviation industry and can help generate around 10,109 new
jobs over the next 20 years, taking the total workforce in the industry from
11,726 at the start of 2017 to around 21,835 in 2037," said Nishant.
He added, "The key concern, however, remains in how
global MROs & OEMs collaborate with local aviation training schools to
bring in the right expertise and curriculum, delivering internationally
accepted certified workforce to cater to Thailand, the rest of ASEAN, and
beyond."
For more information on the Thailand aerospace
sector, please visit: https://goo.gl/4GMipi
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company,
works in collaboration with clients to leverage visionary innovation that
addresses the global challenges and related growth opportunities that will make
or break today's market participants. For more than 50 years, we have been
developing growth strategies for the global 1000, emerging businesses, the
public sector and the investment community. Contact us: Start the discussion
Contact:
Carrie Low
Corporate Communications – Asia-Pacific
P: +603 6204 5910
F: +603 6201 7402
E: carrie.low@frost.com
Corporate Communications – Asia-Pacific
P: +603 6204 5910
F: +603 6201 7402
E: carrie.low@frost.com
SOURCE Frost & Sullivan
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