Asia-Pacific aviation poised for major growth by 2028, says Avia Management Group Asia CEO

The CEO of Avia Management Group Asia, Martynas Grigas, believes that the Asia-Pacific region is poised for major growth in the aviation sector by 2028. The international passenger market has recovered significantly after the pandemic, with the Asia-Pacific region showing the largest passenger recovery. ""Countries like Japan, China, Thailand, India, and Indonesia are seen as potential markets with diverse projections for the aviation industry's development,"" said Grigas. ""This growth will also influence neighbouring countries."" In Southeast Asia, the Thailand Vision 2030 aims to poise the country as a hub for the region by renovating six of the country’s major airports and boosting international flights to and from the country. Similarly in Indonesia, based off data from the Indonesia National Air Carriers Association the country has seen an 89% recovery in aviation since the pandemic. ""Indonesia is also aligned with this mission to increase the number of international and domestic visitors post-pandemic during the recovery period and tourism business development,"" Grigas noted. Despite various challenges in 2023, based on the data from Indonesia National Air Carriers Association (INACA) Indonesia achieved an 89% recovery rate in aviation. Grigas added: ""One of the general needs that must be immediately addressed is the ACMI (Aircraft Crew Maintenance and Insurance) business. Looking at what is happening in Indonesia and some neighbouring countries with a continuously trending positive increase in passenger numbers, one of the main challenges is the availability of aircraft, which has slowed the recovery rate."" Grigas believes the ACMI business model is especially well positioned to support the needs of the Asia-Pacific region in the aviation industry. One of the sub holding in Avia Management Group Asia, BBN Airlines Indonesia in the Asia-Pacific is currently working to meet the Indian market, which is also on a mission to rank among the top three domestic aviation markets globally. ""India is pursuing this goal end-to-end, increasing everything from the number of airports and airlines to the number of passenger aircraft. It is also part to support India's mission to develop its aviation industry over the next 20 years,"" said Grigas. ""The positive business trend in the Asia-Pacific region naturally comes with several global challenges, such as geopolitical turbulence, logistics issues stemming from conflicts in Ukraine and the Middle East, fluctuating inflation, and the rising scarcity of spare parts,"" Grigas pointed out. According to Grigas, these issues should be a concern for all aviation stakeholders in the Asia-Pacific. However, there is much to be positive about. He said: ""With the presence of a supportive business ecosystem, infrastructure between countries, and a balanced supply and demand, the targets of Asia-Pacific countries will be achievable.""