Two new country-specific sessions have been added to the program for the 2016 Global Aerospace Summit, a leading influential gathering of top-tier international aviation, aerospace, defense and space leaders, which will be held in Abu Dhabi next March.
The additions will see dedicated debates on the challenges and potential of the industries within Saudi Arabia and Africa – two markets identified by the summit’s advisory board as key growth territories.
“As the Arabian Gulf’s largest country with a high growth rate, Saudi Arabia provides a lucrative opportunity for aerospace and aviation,” said Nick Webb, Managing Partner of Streamline Marketing Group (SMG), the Summit organizers.
“The Saudi Arabia session will cover key updates on the Saudi Arabian aerospace industry and its development and discuss the country’s aerospace objectives, challenges faced and potential solutions to overcome them.”
Saudi Arabia’s General Authority of Civil Aviation (GACA) recently announced plans to expand privatization programs in the nation’s aviation sector to accommodate rapid passenger growth. Sulaiman Al-Hamdan, president of GACA, said that the authority’s move to privatize a number of international and national airports is aimed at improving services and raising overall quality for airline passengers.
Al-Hamdan explained that the Saudi government wants to give the industry its full support in the continuation of its development, so that aviation plays a central role in economic growth of the Gulf nation while creating job opportunities for its citizens.
The Middle East air passengers market will grow by 4.9% up to 2034 and will see an extra 237 million passengers a year on routes to, from and within the region by 2034, according to the International Air Transport Association (IATA) in its first 20-year passenger growth forecast. Within that, Saudi Arabia will enjoy strong growth of 4.6%.
Africa is also considered one of the fastest-emerging aviation markets with high growth potential. According to IATA, African airlines are expected to post a collective profit of $100 million in 2015. OAG, the online information and travel planning solutions resource, has reported that 10 African countries grew their international capacity by more than 10% last year.
The Global Aerospace Summit is part of the Abu Dhabi Aviation and Aerospace Week held under the patronage of His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces. The summit, which is a high-level, invite-only event, will take place on March 7 and 8, 2016, at Abu Dhabi National Exhibition Centre.
