KONTAN.CO.ID - JAKARTA. PT Garuda Maintenance Facility Aero Asia Tbk (GMFI) sees a better business prospect for aircraft engine repair this year. The company stated that the Repair and Overhaul (MRO) engine market is expected to reach US$ 40.15 billion in 2024, and is estimated to reach US$ 54.68 billion in 2029, with a CAGR of 6.37% during the period 2024-2029. Therefore, the company is optimistic about targeting a business growth of up to 15% in 2024 compared to the achievement in 2023. Rian Fajar Isnaeni, VP Corporate Secretary & Legal GMFI said the impact of the COVID-19 pandemic on the engine MRO market was quite significant. This is due to the large number of aircraft storage and low utilization, the demand for engine maintenance globally dropped significantly in 2020.
Garuda Maintenance Facility (GMFI) Aims for 15% Business Growth This Year
KONTAN.CO.ID - JAKARTA. PT Garuda Maintenance Facility Aero Asia Tbk (GMFI) sees a better business prospect for aircraft engine repair this year. The company stated that the Repair and Overhaul (MRO) engine market is expected to reach US$ 40.15 billion in 2024, and is estimated to reach US$ 54.68 billion in 2029, with a CAGR of 6.37% during the period 2024-2029. Therefore, the company is optimistic about targeting a business growth of up to 15% in 2024 compared to the achievement in 2023. Rian Fajar Isnaeni, VP Corporate Secretary & Legal GMFI said the impact of the COVID-19 pandemic on the engine MRO market was quite significant. This is due to the large number of aircraft storage and low utilization, the demand for engine maintenance globally dropped significantly in 2020.