The Middle East & Africa (MEA) aviation industry is expected to see a CAGR of around 3.2% during the period (2019-2025). Saudi Arabia, Qatar, and Iran are the key economies of the MEA region that contributes to the growth of the aviation industry. The significant cases of COVID-19 in the region further impacted the aviation industry. Major countries such as UAE, Saudi Arabia, and Iran have the highest number of COVID-19 cases. There is a significant decrease in the number of domestic and international flights for passenger and cargo transport in the region. The major countries such as Saudi Arabia, UAE, Qatar, Iran, and South Africa accounted for the decline of 47.9%, 41.2%, 49.5%, 53.3%, and 35.2% in total flights till May 2020 as compared to May 2019 as per ICAO database. Thus, the significant decline in the flights further affected the aviation industry in the region. In addition to vital financial relief, IATA is scoping a comprehensive approach to re-starting the industry in Latin America when governments and public health authorities allow.
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MEA aviation industry is segmented into passenger airlines, cargo airlines, aircraft manufacturing, airport management, and catering & other services. Based on the segmentation, the passenger airline segment is anticipated to get highly affected along with catering & other services. Passenger airline is the largest segment contributing to the aviation industry. A passenger airline is an airline dedicated to the transport of passengers. There are several types of passenger airlines including mainline airlines, regional airlines, low-cost carriers, business class airlines, charter airlines, flag carriers, and others. The cargo airline segment in MEA is showing the highest CAGR of 4.0% during the forecast period. Cargo airlines are the airfreight carriers mainly dedicated to transport cargo by air. It is a costlier means of transport however used to transport necessary and costlier goods all across the globe, at a very fast rate as compared to road, railway, and marine routes. The major economies that are contributing to the growth of MEA aviation industry include Saudi Arabia, UAE, Turkey, South Africa, Nigeria, and the Rest of MEA. The aviation industry of Dubai is well-known for some of the most expensive and luxurious flights, such as Emirates Airlines and Etihad.
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Verticals Affected Most
· Cargo Airlines
· Passenger Airlines
· Aircraft Manufacturing
· Airport Management
· Catering & Other Services
(This release has been published on Global Market Post. Global Market Post is not responsible for any content included in this release.)
