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MENAFN Press - 14/04/2014
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(MENAFN Press) New markets and workforce development have been highlighted as the two key industry challenges by leaders in the aviation, aerospace, defence and space sectors, met at Abu Dhabi's Global Aerospace Summit last week. Almost half of respondents (44.9 per cent) in a survey of participants, more than 100, at the event believe developing new products and new markets is their key challenge, with more than a fifth (22.4 per cent) believing workforce and human resource development is the primary issue



Human capital development was a core theme of the Summit's agenda and the survey showed clear concerns in this area. The two major issues are talent retention (39.2 per cent) and recruitment of new graduates with the correct skill set (35.3 per cent), with the ability to source appropriate training and development for existing staff (23.5 per cent) following behind



Homaid Al Shemmari, Chief Executive Officer of Mubadala Aerospace and Engineering Services, said



"Human capital development is one of the key challenges facing our industry today. That is true in developed markets, where other education and career choices are winning out against our industries, and in emerging markets, where education, training and on-job experience are all issues.



More than two-thirds (69.8 per cent) of respondents believe that aviation infrastructure in their regions is not capable of handling increased capacity required to meet projected future demand. This figure, coupled with the result that 35.2 per cent believe their industry's growth is not supported and promoted by national government, suggests that the industry needs to demonstrate more clearly the economic benefits it brings



The three regions predicted to witness the most international growth over the coming decade are the Middle East (36.4 per cent of respondents), Chine (30.9 per cent) and other Asia Pacific markets (16.4 per cent)



James Hogan, Etihad Airways' President and Chief Executive, added



"Our industries bring direct economic benefit through jobs and exports. And they are also often 'multiplier' businesses which stimulate far wider economic benefits through trade, tourism and associated growth.



"In Abu Dhabi, for example, Etihad Airway's total economic contribution into the local economy is expected to top 10.73 billion by 2015 “ an incredible impact from a business which has just celebrated its 10th anniversary.



One way in which Etihad Airways has grown is through widespread use of codeshares, strategic partnerships and equity investments. Survey respondents believe this is an approach which will be increasingly adopted throughout the industry. 96.2 per cent believe the next two years will see an increase in partnerships in the airline industry, with two fifths (39.6 per cent) believing that increased formal consolidation through changes in airline ownership will be most likely and half (50.9 per cent) believing other forms of partnership, excluding equity investment, will be the more likely path. Only 5.7 per cent believe in a resurgence of traditional alliances and just 3.8 per cent believe the industry will see a decrease in cooperation



The Global Aerospace Summit ran from 7-8 April 2014 at the St. Regis Hotel, Saadiyat Island, Abu Dhabi. It focused on the challenges of driving industrialization and growth across aviation, aerospace, defence and space



The wide ranging themes covered by the Summit included new events for CEOs, dedicated, sector-specific strategy seminars, Defence Industry Closed Door Briefings and a Military, Satellite and Communications session. It brought industry experts together to answer the challenges faced by the sectors and shape future growth strategies



Leaders from companies in both established and emerging markets shared their experiences of supporting industrialization, improving supply chain standards and creating value-added jobs for highly skilled individuals



The second Global Aerospace Summit attracted well over 1,500 delegates from 425 companies in 56 countries


About The Global Aerospace Summit
After only one edition, The Global Aerospace Summit has positioned itself as the most significant thought leadership forum in the world for the development of future growth strategies and sustainable initiatives for the aerospace, aviation, defence and space industries.Following a successful inaugural Summit in 2012, where 900 C level executives from 52 countries gathered to discuss the future of the industry and develop initiatives to nurture growth and address challenges, the Global Aerospace Summit is now preparing for its second edition in 2014. Hosted by Mubadala in Abu Dhabi, the Summit is a strategic, invitation only, interactive forum where global industry leaders join to discuss industry issues, identify growth strategies, technological developments and shape the future of Aerospace, Aviation,Space and Defence.Running alongside the main conference during the 2014 Summit will be a CEO Workforce Summit; a defence industry closed door briefing; and a programme for young future leaders focusing on workforce development and inspiring youth development. The Global Aerospace Summit is organised by Streamline Marketing Group For more information on the summit, please visit www.aerospacesummit.ae About Mubadala Development Company Established and owned by the Government of Abu Dhabi, the company's strategy is built on the creation of partnerships and on long-term, capital-intensive investments that deliver strong financial returns and tangible social benefits for the Emirate of Abu Dhabi, and that contribute to the growth and diversification of its economy. Mubadala brings together and manages a multi-billion dollar portfolio of local, regional and international investments and partners with leading global organizations to operate businesses across a wide range of industry sectors. These include aerospace, semiconductors, metals & mining, oil & gas, renewables, information & communications technology, healthcare, real estate & infrastructure, and services. For more information about Mubadala please visit www.mubadala.com. Streamline Marketing GroupFounded in 1997 by professionals who saw an opportunity to combine their diverse backgrounds and skills to deliver events with impact and focus on customer service, Streamline initially focused on niche, government-related project exhibitions, and quickly established itself as an innovative, entrepreneurial and proactive new player in the region. Having launched and managed a wide variety of unique B2B events across a broad range of industries since then, we fully recognise and understand the need for B2B events in the Middle East to go beyond the traditional exhibition and conference format and are known for our value-added services such as matchmaking programmes and marketing consultancy that strengthen and enhance our business offering for strategic partners, exhibitors, visitors and delegates.

 


MENAFN Press




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