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European and US aerospace firms set to tap Mideast market
DUBAI The European and US aerospace industries are primed to tap the Middle East market in a big way, an expert said this week.
The Middle East, particularly the Gulf, is on the fast-track to being one of the world's main growth areas for the industry, according to Stephan Tillon, regional chief of Transworld Aviation, an aerospace parts stockist based in Dubai's Jebel Ali Free Zone.
The robust state of the industry in the region has the Europeans and Americans eyeing the prize of the Middle East, says Tillon.
The trend become apparent two years ago and will be very noticeable at Dubai 2003, the international aerospace exhibition scheduled to be held in the emirate from December 7-11, he said. He continued: "Manufacturers in Europe and the US have neglected this part of the world for some time, but that's changed in a big way. Nowadays they've very keen to be involved in the Middle East, especially the Gulf states.
"There are two ways they can do it - they can approach potential customers direct or they can take the advice of companies like ours. "It's difficult to put a figure on how much the industry is likely to be worth, but you only have to look at the expansion of Emirates and some other air carriers in the region to get an idea.
"Economies are sluggish in many countries and you can see companies turning their attention to the Middle East to rescue their growth and sales figures."
Transworld Aviation is a stockist and distributor of predominantly aviation spare parts. It also sources a range of military parts.
Transworld, which has been operating in the Middle East for over a decade, keeps 15,000 different line items in its Jebel Ali warehouse. Much of the stock is for helicopters and light planes. Clients are civil and military and include the UAE armed forces and the emirates' police.
Companies from 19 countries are already contracted for Dubai 2003. The huge show is organised by Fairs and Exhibitions (F&E) in conjunction with Dubai's Department of Civil Aviation, the Government of Dubai and in collaboration with the UAE Armed Forces.
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