This report analyzes the worldwide markets for Aircraft Maintenance, Repair And Overhaul (MRO) in US$ Millions. The market for Aircraft MRO is analyzed by the following Segments: Heavy Airframe Maintenance, Modifications, Components Maintenance, Engine Overhaul, and Line Maintenance. The report provides separate comprehensive analytics for US, Canada, Japan, Europe, Asia-Pacific, Middle East, Latin America, and Africa.  Annual forecasts are provided for each region for the period of 2006 through 2015. A six-year historic analysis is also provided for this market. The report profiles 70 companies including many key and niche players worldwide such as Air France KLM, Aveos Fleet Performance Inc., AAR Corp., Ameco Beijing, Ametek IncAmetek Inc., Abu Dhabi Aircraft Technologies, Bedek Aviation Group, Delta TechOps, ExelTech Aerospace Inc., Aviation Technical Services, Inc., Hong Kong Aircraft Engineering Company, Lufthansa Technik, MTU AeroEngines, Singapore Technologies Aerospace, SR Technics, SIA Engineering Co., Snecma Services, STAECO, TIMCO Aviation Services, Inc., and VEM/TAP M&E.  Market data and analytics are derived from primary and secondary research. Company profiles are mostly extracted from URL research and reported select online sources.

TABLE OF CONTENTS

AIRCRAFT MAINTENANCE, REPAIR AND OVERHAUL (MRO)
A GLOBAL STRATEGIC BUSINESS REPORT  		MCP-5073


                                          CONTENTS



  I. INTRODUCTION, METHODOLOGY & PRODUCT DEFINITIONS

      Study Reliability and Reporting Limitations                       I-1
      Disclaimers                                                       I-2
      Data Interpretation & Reporting Level                             I-2
       Quantitative Techniques & Analytics                              I-3
      Product Definitions and Scope of Study                            I-3


 II. EXECUTIVE SUMMARY

  1. Industry Overview                                                  II-1
      Global MRO Industry: A Prelude                                    II-1
      Economic Crisis May Leave Aviation Industry in Rough Patch        II-1
       Table 1: World Business Aviation Market (2008): Percentage
       Breakdown of Fleets by Operator Region –North America,
       Europe, Latin America, Asia-Pacific, Africa and Middle East
       (includes corresponding Graph/Chart)                             II-2
      Aircraft MRO Industry – A Snapshot                                II-2
      Emerging Trends in the Civil Aero Engine MRO Market               II-3
      Market Trends and Issues                                          II-3
       Airline Majors Engage in MRO Outsourcing For Trimming Costs      II-3
       Changing Dynamics of Aircraft MRO Business                       II-3
       Aerospace Composites Market Set to Grow Tremendously in the
        Long Term                                                       II-4
       Aviation Industry Drives Growth in Commercial Aircraft MRO
        Market                                                          II-5
        Table 2: Global Commercial Airlines Market (2006, 2011P and
        2016P): Percentage Share Breakdown of Fleet Size by Region –
        North America, Western Europe, Asia-Pacific, Latin America,
        China, Middle East, Africa, Eastern Europe and India
        (includes corresponding Graph/Chart)                            II-5

        Table 3: World Aviation Engine Fleet Market (2005 & 2015P):
        Breakdown of Growth in Numbers by Technology – Old, Mature
        and New (includes corresponding Graph/Chart)                    II-6
       Engine Overhaul Leads Aircraft MRO Market                        II-6
       Global Spending on Military Aircraft MRO Services Witnesses
        an Overdrive                                                    II-7
        Table 4: World Commercial MRO Market (2007): Percentage
        Share Breakdown of MRO Spending by Country/Region – North
        America, Western Europe, Asia-Pacific, Middle East, China,
        Latin America, Africa, Eastern Europe, and India (includes
        corresponding Graph/Chart)                                      II-7

        Table 5: World Active Military Aircraft Market (2008):
        Percentage Share Breakdown of Aircraft Fleet by Mission Type -
        Rotary Wing (Transport/Utility) Fighter /Attack, Trainer
        /Light Attack, Transport, Utility /General Aviation, Rotary
        Wing (Attack), Special Mission and Tanker (includes
        corresponding Graph/Chart)                                      II-7
       Increased Air Traffic Spurt Growth in Aircraft MRO Market        II-8
        Table 6: Worldwide Air Passenger Traffic (2007): Percentage
        Share Breakdown by Regions –North America, Asia-Pacific,
        Europe, Latin America & Caribbean, Middle East and Africa
        (includes corresponding Graph/Chart)                            II-9

        Table 7: Global Air Passenger Traffic (2006-2015): Breakdown
        of Growth Percentage by Regions – India, Middle East,
        Asia-Pacific, Latin America, CIS, Africa, Europe and North
        America (includes corresponding Graph/Chart)                    II-9
       Regional Aircraft Jets Propel MRO Market                         II-9
        Table 8: World APU* MRO Market (2005 & 2015P): Breakdown of
        Market Growth by Aircraft Size Category - Single Aisle, Long
        Range, Regional Jet and Twin Aisle (includes corresponding
        Graph/Chart)                                                    II-10
       Airframe Maintenance Faces Threat from Second Generation
        Aircrafts                                                       II-10
       MRO Unit Costs Decline as Market Spending Looks Up               II-11
        Table 9: Worldwide MRO Market (2001-2016): Breakdown of Per
        Unit Spending Costs Over the Years (includes corresponding
        Graph/Chart)                                                    II-12
       Volume of Global Commercial Airline Fleets Set to Increase       II-12
        Table 10: World Commercial Jet Transport Market (2007, 2011
        and 2016): Percentage Share Breakdown by Fleet Type –
        Narrowbody, Widebody and Regional Jets (includes
        corresponding Graph/Chart)                                      II-12
       Other Important Trends: A Snapshot                               II-13

  2. MRO Growth Drivers and Strategies                                  II-14
      Rise in Worldwide Air Miles                                       II-14
      Increase in Low Cost Carriers (LCC)                               II-14
       Table 11: World Aircraft MRO Market (2008): Percentage
       Breakdown of MRO Spending by Major Drivers - Increase in
       Fleet, Aging and Wear of Aircraft and Price Inflation / Other
       Contract-related (includes corresponding Graph/Chart)            II-14
      MRO Growth Strategies for the Future                              II-14
      Moving Towards Full-Service Integration                           II-15
       Table 12: Global Aircraft MRO Market (2006, 2008 and 2010):
       Percentage Share Breakdown of Service Providers by Major
       Types - Niche Service Provider, Single-Platform Specialist,
       Multi-Platform Specialist, Complete Service Integrator and
       Others (includes corresponding Graph/Chart)                      II-15

       Table 13: Global Aircraft MRO Market (2008 and 2011):
       Percentage Breakdown of Service Providers by Revenue Models -
       Services on Demand, Bundled Services, Complete Integration
       and Others (includes corresponding Graph/Chart)                  II-16
       Enhancement in Productivity/Capabilities                         II-16
       Globalization Strategy                                           II-16
       Efficiency in MRO Supply Chain                                   II-17

  3. Commercial MRO Outsourcing                                         II-18
      Table 14: World Aircraft MRO Market (2007): Percentage
      Breakdown of Segments by Outsourcing and In-house (includes
      corresponding Graph/Chart)                                        II-18

  4. Military Aircraft MRO Market                                       II-19
      Table 15: World Military Aircraft MRO Market (2007):
      Percentage Share Breakdown of MRO Spending by Region – US,
      Europe, Asia-Pacific and Rest of World (includes corresponding
      Graph/Chart)                                                      II-19

      Table 16: World Active Military Aircraft Market (2008):
      Percentage Share Breakdown of Aircraft Fleet by Regional
      Distribution – North America, Europe, Asia-Pacific, Middle
      East, Latin America and Africa (includes corresponding
      Graph/Chart)                                                      II-19
      Market Trends                                                     II-20
       Greater Preference for Performance-dependent Contracts and
        Alliances                                                       II-20
        Table 17: World Active Military Aircraft Market (2008):
        Percentage Share Breakdown of Aircraft Fleet by Major OEMs –
        GE, Rolls Royce, Pratt & Whitney, Honeywell, Turbomeca,
        Snecma and Others (includes corresponding Graph/Chart)          II-20
       Lean Transformation                                              II-20
       Civil (Commercial) - Military MRO Convergence                    II-20
        Global Commercial - Military MRO Convergence: Major Factors
         Driving the Trend                                              II-21
        Changes in OEM Aftermarket Support Organizations as a result
         of Commercial-Military MRO Convergence                         II-22
       Aging Military Aircraft Fleets Driving MRO Services              II-23
        Table 18: World Active Military Aircraft Market (2008):
        Percentage Share Breakdown of Aircraft Fleet by Maturity
        Levels – Mature, Old and New (includes corresponding
        Graph/Chart)                                                    II-23
      Other Trends                                                      II-23
      Military MRO Structure/Segments                                   II-23
       Table 19: World Military Aircraft MRO Market (2008):
       Percentage Share Breakdown of MRO Spending by Category -
       Field Maintenance, Airframe Heavy, Components & Systems and
       Engine Overhaul (includes corresponding Graph/Chart)             II-23
      Field Maintenance                                                 II-24
      Airframe Heavy Maintenance                                        II-24
       Table 20: World Military Airframe MRO Market (2008):
       Percentage Share Breakdown of Heavy Maintenance Segments –
       Fighter/Attack, Rotary Wing, Special Mission,
       Transport-Heavy, Transport-Light/Medium, Trainer/Light
       Attack, Tanker and General Aviation/Utility (includes
       corresponding Graph/Chart)                                       II-24
      Aircraft Components & Systems                                     II-25
       Table 21: World Military Aircraft Component MRO Market
       (2008): Percentage Share Breakdown by Component Types –Flight
       Deck Avionics, Dynamic Components, Landing Gear, Hydraulics,
       Mission Avionics, Wheels & Brakes, Electrical, Fuel,
       Pneumatics, APU and Others (includes corresponding
       Graph/Chart)                                                     II-25
      Engine Overhaul                                                   II-26
       Table 22: World Military Aircraft Engine MRO Market (2008):
       Percentage Share Breakdown by Engine Types – F100-200, F404,
       F110-100, T56, J79, RB199, T700, F117, J85, F100-229,
       CFM56-2, ATAR and Others (includes corresponding Graph/Chart)    II-26

  5. Aircraft MRO Norms and Regulations                                 II-27
      Overview                                                          II-27
      Increasing Trend towards PMA Parts                                II-27

  6. Commercial Aircraft MRO Segments                                   II-29
      Airframe Heavy Maintenance                                        II-29
       Table 23: World Airframe Heavy MRO Market (2007): Percentage
       Share Breakdown of Demand by Aircraft Type –747-400, A320
       Fleet, 737-3/4/500, 767, 757, MD80, 747-1/2/300, A300-600,
       777, A340-200/300 and Others (includes corresponding
       Graph/Chart)                                                     II-29

       Table 24: World Airframe Heavy MRO Market (2007): Percentage
       Share Breakdown of Airframe Heavy Maintenance by Leading
       Suppliers –Self, Independent, Airline Third Party and OEMs
       (includes corresponding Graph/Chart)                             II-30

       Table 25: Worldwide Airframe Heavy Maintenance Market
       (2014P): Percentage Share Breakdown by Types of Aircraft
       Fleets – A320, B747-400, B767, B737 NG and Others (includes
       corresponding Graph/Chart)                                       II-30
      Major Trends/Scenarios Shaping the Airframe Heavy Maintenance
       Market –                                                         II-30
       Table 26: World Passenger Aircraft Market (2006): Breakdown
       Aircraft Deliveries by Top Ten Region/ Country-US, China, UK,
       Germany, Japan, Italy, France, Spain, Canada and Malaysia
       (includes corresponding Graph/Chart)                             II-31
      Aircraft Modifications                                            II-31
       Major Trends/Scenarios Shaping the Aircraft Modifications
        Market –                                                        II-32
      Components Maintenance                                            II-32
       Table 27: World Components MRO Market (2007): Percentage
       Share Breakdown by Major Segments –Wheels & Brakes, APU,
       Avionics, Engine Exhaust, Engine Fuel & Control, Landing
       Gear, Flights Controls and Others (includes corresponding
       Graph/Chart)                                                     II-33
       Major Trends/Scenarios Shaping the Components Maintenance
        Market –                                                        II-33
      Engine Overhaul                                                   II-34
       Table 28: World Air Transport Engine Overhaul Market (2007):
       Percentage Share Breakdown by Leading Suppliers –GE, Rolls
       Royce, Lufthansa Technik, Pratt & Whitney, AFI/KLM, Delta
       Tech Ops, MTU, Japan Airlines, Snecma, American Airlines and
       Others (includes corresponding Graph/Chart)                      II-34

       Table 29: World Engine MRO Market (2007): Percentage Share
       Breakdown of Engine Overhaul by Leading Engine Types–
       CF6-80C2, CFM56-3, PW4000-94, JT8D-200, JT9D, V2500,
       RB211-535, CFM56-5C, PW2000, RB211-524GH and Others (includes
       corresponding Graph/Chart)                                       II-35

       Table 30: World Engine Overhaul Market (2007): Percentage
       Share Breakdown by Major Segments – Air Transport, Military
       and Business & GA (includes corresponding Graph/Chart)           II-35
       Major Trends/Scenarios Shaping the Engine Overhaul Market –      II-35
        Table 31: World Engine Overhaul Market (2007): Percentage
        Share Breakdown by Leading Suppliers – OEMs, Self, Airline
        Third Party, Independent and Joint Ventures (includes
        corresponding Graph/Chart)                                      II-36

        Table 32: World Engine Overhaul Market (2008): Percentage
        Share Breakdown of Overhaul Costs by Segments –Material,
        Labour, Outside Components Repair and Fees (includes
        corresponding Graph/Chart)                                      II-36

        Table 33: World Engine Overhaul Market (2008): Percentage
        Share Breakdown of Material Repair by Segments –New, Limited
        Life Components, Used/ Serviceable Components and PMA
        (includes corresponding Graph/Chart)                            II-37

        Table 34: World Engine Overhaul Market (2008): Percentage
        Share Breakdown of Outside Components Repair by Segments -
        HPT Airfoils, Compressor Airfoils, LPT Airfoils, Stators,
        Cases and Others (includes corresponding Graph/Chart)           II-37
      Line Maintenance                                                  II-37
       Table 35: World Line Maintenance Market (2007): Percentage
       Share Breakdown of Demand by Major Aircraft Types –A320
       Fleet, 737-3/4/500, 737- NG, 767, 757, MD80, 747-400, CRJ,
       777, EMB RJ and Others (includes corresponding Graph/Chart)      II-37
       Major Trends/Scenarios Shaping the Line Maintenance Market –     II-38
        Table 36: Global Line Maintenance Market (2008): Percentage
        Share Breakdown of Service Supply by Types – In-House and
        Outsourced                                                      II-38

        Table 37: Global Line Maintenance Market (2008): Percentage
        Share Breakdown of Type of Cost Structure – Labor Intensive
        and Materials & Consumables                                     II-38

  7. Product Overview                                                   II-39
      Evolution and Development of the MRO Industry                     II-39
       Development of the MRO Industry through the Years                II-39
       Common Definitions and Terminologies                             II-39
        Aircraft MRO (Maintenance, Repair and Overhaul)                 II-39
        Aviation Maintenance                                            II-40
        MRO Consultants                                                 II-40
       Aircraft MRO Functioning and Processes                           II-40
        Major Areas of Aircraft Maintenance, Repair and Overhaul
         Include –                                                      II-41
        Some of the Worldwide Used Innovative MRO Solutions
         Developed by Leading Players Include –                         II-41
       Commercial Aircraft Maintenance Process                          II-42
        Types of MRO Maintenance Activities                             II-42
         Routine MRO Activity                                           II-42
         Non-Routine MRO Activity                                       II-42
         Modification                                                   II-42
        Maintenance Schedules and Approval Systems                      II-42
         A-Check /Minor Check                                           II-43
         B-Check                                                        II-43
         C-Check / Major Check                                          II-43
         IL-Check                                                       II-43
         D-Check                                                        II-43
       Low-cost carrier                                                 II-43
        A Typical Business Model of LCCs Includes –                     II-44

  8. Recent Industry Activity                                           II-45
      European Aviation Completes Acquisition of Indamer                II-45
      Abu Dhabi Aircraft, Silver Air Form Alliance                      II-45
      Air Canada Extends Maintenance Agreement with Aveos               II-45
      AAR Corp Acquires Avborne Heavy Maintenance                       II-45
      Boeing Takes Over Insitu                                          II-45
      Rolls-Royce and Mubadala Establish New Aviation JV                II-45
      Northstar Aerospace to Sell Repair and Overhaul Operations        II-46
      Gulfstream Aerospace Takes Over Jet Aviation                      II-46
      Esterline Sells UK Subsidiary to Ametek                           II-46
      1time Holdings Agrees to Acquire 77.5% Stake in Safair Technical  II-46
      ST Aerospace Takes Over Remaining Stake in STA Solutions          II-46
      Abu Dhabi Airport Awards Contract to Global Aviation              II-47
      Hamilton Aerospace Bags US$3 Million Worth Contracts              II-47
      Global Aircraft Solutions Inks a Contract with Boeing             II-47
      Boustead Singapore Bags US$37 Million Contract from Singapore
       Aero                                                             II-47
      GoAir to Ink US$40 Million Deal with Air France Engineering       II-47
      GMR Hyderabad Joins Hands with Malaysian Airlines                 II-47
      MAS Aerospace to Partner Alenia Aeronavali                        II-48
      Cebu Pacific Establishes Joint Venture with SIA Engineering       II-48
      Turkish Engine Center Signs Pact with Turkish Technic, Turkish
       Airlines                                                         II-48
      NACIL Signs Joint Venture Accord with EADS                        II-48
      Jet Aviation, Vnukovo Invest Ink Agreements                       II-48
      Domodedovo Technique Inks MRO Agreement with IFS                  II-49
      GA Telesis Completes Acquisition of AM Trading and AM Repair      II-49
      HAECO, Taikoo Ink Accord with GE Pacific and GE Company           II-49
      HAECO Sets Up Aircraft Maintenance Services Facility in China     II-49
      United Business Media Completes Acquisition of AeroStrategy       II-49
      AMETEK Acquires Drake Air                                         II-50
      Maguire Aviation to Acquire Skytrails Aviation                    II-50
      Sama Airlines Inks MRO Deal with Alsalam Aircraft                 II-50
      AMETEK Acquires Umeco Repair & Overhaul                           II-50
      Government of Portugal Acquires 49% Interest in Reaching Force    II-50
      Saudi American Acquires Trident                                   II-51
      AMETEK Completes the Acquisition of Advanced Industries and B
       &S Aircraft                                                      II-51
      Boeing Bags a Contract from USAF                                  II-51
      Global Aircraft Inks an Agreement for 40% Stake in Global
       Aircraft Leasing Partners                                        II-51
      AMETEK Takes Over High Standard Aviation                          II-52
      Emirates Enters into an Agreement with Engine Alliance            II-52
      Aeroterm Takes Over MRO, Office, and Hangar Facility in Canada    II-52
      Aerospace Enters into a Deal with GE Aviation                     II-52
      Malaysia Airlines Inks Service Agreement and MoUs with Foreign
       Airline Partners                                                 II-53
      HAECO Inks a Joint Venture Deal with Air Arabia                   II-53
      JLL Partners Takes Over American Turbo Systems                    II-53
      Sun Capital Partners Completes the Acquisition of Pemco World Air II-53
      AMETEK Takes Over B&S Aircraft Parts & Accessories                II-54
      L-3 Communications Acquires Stake in Paragon Systems              II-54
      Riverhawk Aviation Completes Acquisition of Profile Aviation
       Center                                                           II-54
      Gulfstream Takes Over WECO                                        II-54
      Ranger Aerospace Takes Over Two Major Aviation MRO Companies      II-54
      Fokker Services to Take Over Aerotron AirPower                    II-55
      AAR Acquires Majority Stake in Reebaire Aircraft                  II-55
      Investment Fund Company LD Equity Acquires Scandinavian
       Airline Sterling A/S                                             II-56
      Dubai’s DAE Acquires Two US Companies Standard Aero and
       Landmark Aviation                                                II-56
      Vector Aviation to Acquire Perth Based Helicopter Component
       Repair Facility                                                  II-56
      Snecma Services and Airfoil Technologies Enter into a Joint
       Venture for Repair Services                                      II-56
      Lockheed Martin Bags Contract for US Navy Helicopter Repair
       Services                                                         II-57
      ExelTech Aerospace Enters into Multi-Year Jet MRO Contract
       with Air Wisconsin                                               II-57
      Russian Firm Inks Helicopter Maintenance Contracts with
       Chinese Companies                                                II-58
      Czech Republic Grants Helicopter Repair Contract to Russia        II-58
      Uzbekistan and Russia Enter into a JV for Setting up
       Helicopter MRO Unit                                              II-58
      L-3 Communications Bags $8 Million Contract for Helicopter MRO    II-58
      DRS Technologies Wins US Army Contract for Helicopter
       Maintenance Services                                             II-59
      Finmeccanica Bags Helicopter MRO Contract for Britain Defense
       Helicopters                                                      II-59
      Jupiter Aviation Inks Agreement with EADS for Establishment of
       MRO Center                                                       II-59
      Club One Air to Sign Agreement with Eclipse Aviation for New
       MRO Unit in India                                                II-59
      Lion Air, Delta Airlines Ink Pact for Aircraft MRO Facility       II-60
      Lufthansa Technik Bags Two Aircraft MRO Contracts from US Airways II-60
      Abu Dhabi Aircraft and Etihad Airways Ink $500 Million, Multi
       -Year MRO Contract                                               II-60
      Goodrich Corp and Cathay Pacific Enter into Aircraft MRO
       Services Alliance                                                II-61
      Airbus S.A.S Inks Aircraft MRO Agreement with Lufthansa
       Technik Shenzhen                                                 II-61
      Malaysian Carrier AirAsia Inks Initial MRO Pact with New
       Domestic Company                                                 II-61
      Hamilton Aerospace Receives Aircraft MRO Contracts from Two
       Companies                                                        II-61
      Singapore Technologies, Xiamen Aviation Float JV for Aircraft
       Engine MRO                                                       II-62
      Aerostar Forms Joint Venture with Singapore Based Interior
       Aeroservices                                                     II-62
      MTC Technologies Receives Aircraft MRO Contract for
       Philippines Defense Aircraft                                     II-62
      ExelTech Signs Bombardier Dash 8 MRO Services Contract with
       Piedmont Airlines                                                II-62
      Jupiter Aviation, EADSEFW to Set Up MRO Facility in India         II-63
      Taneja Aerospace to Sign MRO Joint Ventures with Foreign Firms    II-63
      Indian Enters into MOU with CFM for Joint MRO Service Center
       in India                                                         II-64
      Pratt & Whitney Canada Ink Aircraft Engine MRO Contract with
       Gulfstream                                                       II-64
      National Carrier Indian Inks MRO Joint Venture for Aircraft MRO   II-64
      Qantas Airways Signs Aircraft MRO Joint Venture with Malaysia
       Airlines                                                         II-64
      Canada’s ExelTech Bags 5-Year Contract for Bombardier Water
       Bombers                                                          II-65
      General Electric Bags US Navy Contract for Defense Aircraft
       MRO Services                                                     II-65
      ACTS LP Signs US$200 Mln MRO Agreements with TACA
       International and Volaris                                        II-65
      ExelTech Aerospace Signs MRO Contract with West Wind Aviation     II-65
      Boeing to Commence MRO services in China through JV               II-66
      Sukhoi to Establish MRO Facility in Malaysia                      II-66
      Arik Air Commences Construction of New MRO Facility in Nigeria    II-66
      Cochin International Airport to Establish International MRO
       Unit in Cochin, India                                            II-66
      Lufthansa Technik Announces Plan to Set Up MRO Unit in
       Hyderabad, India                                                 II-67
      Mesaba Airlines to Set up a MRO Unit at Des Moines Airport, Iowa  II-67
      Boeing Announces Plan to Establish MRO Facility in Nagpur, India  II-67
      Dubai Government to Establish the Largest MRO facility
       Worldwide in Jebel Ali, Dubai                                    II-67
      SIA Engineering to Establish Aircraft MRO Unit in Vietnam         II-68
      Spirit AeroSystems to Initiate Aircraft MRO Services in Europe    II-68
      Jet Airways to Establish MRO Center in Chennai, India             II-68
      Compass Airlines to Establish Aircraft MRO Facility at
       Louisville International Airport                                 II-68
      Goodrich Corp. Divests Heavy Maintenance Unit to Macquarie Bank   II-68
      Ace Aviation Holdings Divests 70% Stake in Aircraft MRO Plant     II-69
      Japan Airlines to Divest Majority Stake in Maintenance Unit to
       Itochu Corp                                                      II-69
      Brazil Embraer Initiates Construction of MRO Facility in
       Arizona, US                                                      II-69
      SIA Engineering and Wadia Group Mutually Terminate Aircraft
       MRO Venture                                                      II-69
      ST Aero Receives Regulatory Nod for Commencing MRO Operations     II-70
      TAS Holding to Acquire TIMCO Aviation Services                    II-70
      Avstar Aviation to Take Over Texcom                               II-70
      Aviall Inks an Agreement to Take Over Sisu Services               II-70
      UAE Consortium Acquires SR Technics of Switzerland                II-71
      Air-India to Acquire MRO Facility of Boeing in Nagpur, India      II-71
      AMETEK Takes Over Oklahoma Based MRO Service Provider,
       Southern Aeroparts                                               II-71
      UIC Acquires McTurbine, a Helicopter Repair and Services Center   II-71
      SIA Engineering and Wadia Group to Set Up MRO JV in India         II-71
      Vietnam Airlines and Milcon Gulf Sign MoU for Setting up MRO
       Unit in Vietnam                                                  II-72
      Pratt & Whitney and China Eastern Sign Agreement for MRO Unit
       in China                                                         II-72
      Cathay Pacific Enters into Long-Term MRO Agreement with GE        II-72
      Delta Airlines Extends MRO Agreement with Royal Air Maroc         II-72
      Air France and KLM to Join Together for MRO Co-branding           II-73
      Airbus and HAL in Negotiations for Setting up MRO Facility in
       India                                                            II-73
      Air Deccan Enters into $150 Million MRO Deal with Lufthansa
       Technik                                                          II-73
      Alcoa Enters into a MRO Inventory Management Deal with Nexiant    II-73
      KLM and Honeywell Sign APU MRO Partnership                        II-74
      Kingfisher Airlines and HAL to Jointly Set up MRO Center in India II-74
      Eurocopter and Gazpromavia Ink MRO Deal for Russian Eurocopter
       Helicopters                                                      II-74
      Snecma Services and ITR Collaborate to Set up a New JV MRO
       Facility in Mexico                                               II-74
      HAL to Ink Agreement with Pratt & Whitney for MRO Unit in
       Bangalore, India                                                 II-75
      Shanghai Airport Authority Sets up China’s First JV MRO Center
       in Shanghai                                                      II-75
      Indian Defense Ministry grants MRO Contract to Russian Company    II-75
      Bell Helicopter to Establish an Aircraft MRO Facility in Thailand II-76
      IA, HAL and Airbus Collaborate to Establish a MRO Unit in
       Mumbai, India                                                    II-76
      Heli-One to Set Up North American Helicopter MRO Facility in
       Canada                                                           II-76
      Various Foreign Firms to Establish MRO Center in Nagpur, India    II-76
      Delhi International Airport to Establish New MRO Center in
       Delhi, India                                                     II-77
      Singapore Technologies to Shut Down Sick MRO Unit in UK           II-77
      Bulgarian Defense Ministry to Terminate MRO Contract with
       Elbit Systems                                                    II-77
      Sikorsky Aircraft Corp Acquires Keystone Ranger Holdings          II-77
      Shenzhen Airlines Signs 15-Year MRO Servicing Pact with GE        II-78
      Jet Airways to Establish MRO Center in Partnership with
       Foreign Player in India                                          II-78

  9. Focus on Select Players                                            II-79
      Air France KLM (France)                                           II-79
      Aveos Fleet Performance Inc (Canada)                              II-79
      AAR Corp (US)                                                     II-79
      Ameco Beijing (China)                                             II-80
      Ametek Inc (US)                                                   II-80
      Abu Dhabi Aircraft Technologies (UAE)                             II-81
      Bedek Aviation Group (Israel)                                     II-81
      Delta TechOps (US)                                                II-82
      ExelTech Aerospace Inc (Canada)                                   II-82
      Aviation Technical Services, Inc (US)                             II-83
      Hong Kong Aircraft Engineering Company (Hong Kong)                II-83
      Lufthansa Technik (LHT) (Germany)                                 II-84
      MTU AeroEngines (Germany)                                         II-85
      Singapore Technologies Aerospace (ST Aerospace) (Singapore)       II-86
      SR Technics (Switzerland)                                         II-86
      SIA Engineering Co (Singapore)                                    II-87
      Snecma Services (France)                                          II-87
      STAECO (China)                                                    II-88
      TIMCO Aviation Services, Inc (US)                                 II-89
      VEM/TAP M&E (Brazil)                                              II-89

  10. Global Market Perspective                                         II-90
      Table 38: World Recent Past, Current and Future Analysis for
      Aircraft MRO by Geographic Region – US, Canada, Japan, Europe,
      Asia-Pacific (Excluding Japan), Middle East, Latin America,
      and Africa Markets Independently Analyzed with Annual Revenue
      Figures in US$ Million for the Years 2006 through 2015
      (includes corresponding Graph/Chart)                              II-90

      Table 39: World Historic Review for Aircraft MRO by Geographic
      Region – US, Canada, Japan, Europe, Asia- Pacific (Excluding
      Japan), Middle East, Latin America, and Africa Markets
      Independently Analyzed with Annual Revenue Figures in US$
      Million for the Years 2000 through 2005 (includes
      corresponding Graph/Chart)                                        II-91

      Table 40: World 10-Year Perspective for Aircraft MRO by
      Geographic Region – Percentage Breakdown of Revenues for US,
      Canada, Japan, Europe, Asia-Pacific (Excluding Japan), Middle
      East, Latin America, and Africa Markets for Years 2006, 2009,
      and 2015 (includes corresponding Graph/Chart)                     II-92

      Table 41: World Recent Past, Current and Future Analysis for
      Heavy Airframe Maintenance Segment by Geographic Region – US,
      Canada, Japan, Europe, Asia-Pacific (Excluding Japan), Middle
      East, Latin America, and Africa Markets Independently Analyzed
      with Annual Revenue Figures in US$ Million for the Years 2006
      through 2015 (includes corresponding Graph/Chart)                 II-93

      Table 42: World Historic Review for Heavy Airframe Maintenance
      Segment by Geographic Region – US, Canada, Japan, Europe,
      Asia-Pacific (Excluding Japan), Middle East, Latin America,
      and Africa Markets Independently Analyzed with Annual Revenue
      Figures in US$ Million for the Years 2000 through 2005
      (includes corresponding Graph/Chart)                              II-94

      Table 43: World 10-Year Perspective for Heavy Airframe
      Maintenance Segment by Geographic Region – Percentage
      Breakdown of Revenues for US, Canada, Japan, Europe,
      Asia-Pacific (Excluding Japan), Middle East, Latin America,
      and Africa Markets for Years 2006, 2009, & 2015 (includes
      corresponding Graph/Chart)                                        II-95

      Table 44: World Recent Past, Current and Future Analysis for
      Modifications Segment by Geographic Region – US, Canada,
      Japan, Europe, Asia-Pacific (Excluding Japan), Middle East,
      Latin America, and Africa Markets Independently Analyzed with
      Annual Revenue Figures in US$ Million for the Years 2006
      through 2015 (includes corresponding Graph/Chart)                 II-96

      Table 45: World Historic Review for Modifications Segment by
      Geographic Region – US, Canada, Japan, Europe, Asia-Pacific
      (Excluding Japan), Middle East, Latin America, and Africa
      Markets Independently Analyzed with Annual Revenue Figures in
      US$ Million for the Years 2000 through 2005 (includes
      corresponding Graph/Chart)                                        II-97

      Table 46: World 10-Year Perspective for Modifications Segment
      by Geographic Region – Percentage Breakdown of Revenues for
      US, Canada, Japan, Europe, Asia-Pacific (Excluding Japan),
      Middle East, Latin America, and Africa Markets for Years 2006,
      2009, 2015 (includes corresponding Graph/Chart)                   II-98

      Table 47: World Recent Past, Current and Future Analysis for
      Components Maintenance Segment by Geographic Region – US,
      Canada, Japan, Europe, Asia-Pacific (Excluding Japan), Middle
      East, Latin America, and Africa Markets Independently Analyzed
      with Annual Revenue Figures in US$ Million for the Years 2006
      through 2015 (includes corresponding Graph/Chart)                 II-99

      Table 48: World Historic Review for Components Maintenance
      Segment by Geographic Region – US, Canada, Japan, Europe,
      Asia-Pacific (Excluding Japan), Middle East, Latin America,
      and Africa Markets Independently Analyzed with Annual Revenue
      Figures in US$ Million for the Years 2000 through 2005
      (includes corresponding Graph/Chart)                              II-100

      Table 49: World 10-Year Perspective for Components Maintenance
      Segment by Geographic Region – Percentage Breakdown of
      Revenues for US, Canada, Japan, Europe, Asia-Pacific
      (Excluding Japan), Middle East, Latin America, and Africa
      Markets for Years 2006, 2009, 2015 (includes corresponding
      Graph/Chart)                                                      II-101

      Table 50: World Recent Past, Current and Future Analysis for
      Engine Overhaul Segment by Geographic Region – US, Canada,
      Japan, Europe, Asia-Pacific (Excluding Japan), Middle East,
      Latin America, and Africa Markets Independently Analyzed with
      Annual Revenue Figures in US$ Million for the Years 2006
      through 2015 (includes corresponding Graph/Chart)                 II-102

      Table 51: World Historic Review for Engine Overhaul Segment by
      Geographic Region – US, Canada, Japan, Europe, Asia-Pacific
      (Excluding Japan), Middle East, Latin America, and Africa
      Markets Independently Analyzed with Annual Revenue Figures in
      US$ Million for the Years 2000 through 2005 (includes
      corresponding Graph/Chart)                                        II-103

      Table 52: World 10-Year Perspective for Engine Overhaul
      Segment by Geographic Region – Percentage Breakdown of
      Revenues for US, Canada, Japan, Europe, Asia-Pacific
      (Excluding Japan), Middle East, Latin America, and Africa
      Markets for Years 2006, 2009 and 2015 (includes corresponding
      Graph/Chart)                                                      II-104

      Table 53: World Recent Past, Current and Future Analysis for
      Line Maintenance Segment by Geographic Region – US, Canada,
      Japan, Europe, Asia-Pacific (Excluding Japan), Middle East,
      Latin America, and Africa Markets Independently Analyzed with
      Annual Revenue Figures in US$ Million for the Years 2006
      through 2015 (includes corresponding Graph/Chart)                 II-105

      Table 54: World Historic Review for Line Maintenance Segment
      by Geographic Region – US, Canada, Japan, Europe, Asia-Pacific
      (Excluding Japan), Middle East, Latin America, and Africa
      Markets Independently Analyzed with Annual Revenue Figures in
      US$ Million for the Years 2000 through 2005 (includes
      corresponding Graph/Chart)                                        II-106

      Table 55: World 10-Year Perspective for Line Maintenance
      Segment by Geographic Region – Percentage Breakdown of
      Revenues for US, Canada, Japan, Europe, Asia-Pacific
      (Excluding Japan), Middle East, Latin America, and Africa
      Markets for Years 2006, 2009 and 2015 (includes corresponding
      Graph/Chart)                                                      II-107


III. MARKET

  1. The United States                                                  III-1
      A.Market Analysis                                                 III-1
        Current & Future Analysis                                       III-1
        Market Overview                                                 III-1
         Table 56: Airlines Outsourcing their MRO Activities in
          United States by 2006 (includes corresponding Graph/Chart)    III-2
         Leading North American Aircraft MRO Providers in 2005          III-2
         Main Issues in the Marketplace                                 III-2
        Aircraft Fleets and Deliveries                                  III-2
        US Business Aviation Market                                     III-3
         Table 57: US Business Aviation Market (2007): Percentage
         Breakdown of Fleets by Leading OEMs – Raytheon, Cessna,
         Bombardier, Gulfstream, Dassault and Others (includes
         corresponding Graph/Chart)                                     III-3

         Table 58: US Business Aviation Market (2008): Percentage
         Breakdown of Fleets by Engine Type – Turbojet Aircraft,
         Turboprop Aircraft and Others (includes corresponding
         Graph/Chart)                                                   III-3

         Table 59: US Business Aviation Market (2008): Percentage
         Breakdown of Fleets by Operator Type –Corporate, Charter &
         Cargo, Government, Fractional and Others (includes
         corresponding Graph/Chart)                                     III-3
        Recent Industry Activity                                        III-4
        Focus on Select US Players                                      III-14
      B.Market Analytics                                                III-16
        Table 60: US Recent Past, Current and Future Analysis for
        Aircraft MRO by Maintenance Segments – Heavy Airframe
        Maintenance, Modifications, Components Maintenance, Engine
        Overhaul and Line Maintenance Markets Independently Analyzed
        with Annual Revenue Figures in US$ Million for the Years
        2006 through 2015 (includes corresponding Graph/Chart)          III-16

        Table 61: US Historic Review for Aircraft MRO by Maintenance
        Segments – Heavy Airframe Maintenance, Modifications,
        Components Maintenance, Engine Overhaul and Line Maintenance
        Markets Independently Analyzed with Annual Revenue Figures
        in US$ Million for the Years 2000 through 2005 (includes
        corresponding Graph/Chart)                                      III-17

        Table 62: US 10-Year Perspective for Aircraft MRO by
        Maintenance Segment – Percentage Share Breakdown of Revenues
        for Heavy Airframe Maintenance, Modifications, Components
        Maintenance, Engine Overhaul and Line Maintenance Markets
        for Years 2006, 2009, and 2015 (includes corresponding
        Graph/Chart)                                                    III-17

  2. Canada                                                             III-18
      A.Market Analysis                                                 III-18
        Current & Future Analysis                                       III-18
         Table 63: Canadian Aerospace Industry (2001-2006):
         Breakdown by Parameters – Revenues, Exports, Employment and
         Investment (includes corresponding Graph/Chart)                III-18

         Table 64: Canadian Aerospace & Defense Industry 2007):
         Percentage Share Breakdown by Major Segments –Aircraft &
         Components, Avionics, Aircraft Engine & Components, MRO,
         Training & Simulation, Space and Others (includes
         corresponding Graph/Chart)                                     III-19
        Recent Industry Activity                                        III-19
        Focus on Select Players                                         III-23
      B.Market Analytics                                                III-24
        Table 65: Canadian Recent Past, Current and Future Analysis
        for Aircraft MRO by Maintenance Segments – Heavy Airframe
        Maintenance, Modifications, Components Maintenance, Engine
        Overhaul and Line Maintenance Markets Independently Analyzed
        with Annual Revenue Figures in US$ Million for the Years
        2006 through 2015 (includes corresponding Graph/Chart)          III-24

        Table 66: Canadian Historic Review for Aircraft MRO by
        Maintenance Segments – Heavy Airframe Maintenance,
        Modifications, Components Maintenance, Engine Overhaul and
        Line Maintenance Markets Independently Analyzed with Annual
        Revenue Figures in US$ Million for the Years 2000 through
        2005 (includes corresponding Graph/Chart)                       III-25

        Table 67: Canadian 10-Year Perspective for Aircraft MRO by
        Maintenance Segment – Percentage Share Breakdown of Revenues
        for Heavy Airframe Maintenance, Modifications, Components
        Maintenance, Engine Overhaul and Line Maintenance Markets
        for Years 2006, 2009, and 2015 (includes corresponding
        Graph/Chart)                                                    III-25

  3. Japan                                                              III-26
      A.Market Analysis                                                 III-26
        Current & Future Analysis                                       III-26
        Recent Industry Activity                                        III-26
      B.Market Analytics                                                III-26
        Table 68: Japanese Recent Past, Current and Future Analysis
        for Aircraft MRO by Maintenance Segments – Heavy Airframe
        Maintenance, Modifications, Components Maintenance, Engine
        Overhaul and Line Maintenance Markets Independently Analyzed
        with Annual Revenue Figures in US$ Million for the Years
        2006 through 2015 (includes corresponding Graph/Chart)          III-26

        Table 69: Japanese Historic Review for Aircraft MRO by
        Maintenance Segments – Heavy Airframe Maintenance,
        Modifications, Components Maintenance, Engine Overhaul and
        Line Maintenance Markets Independently Analyzed with Annual
        Revenue Figures in US$ Million for the Years 2000 through
        2005 (includes corresponding Graph/Chart)                       III-27

        Table 70: Japanese 10-Year Perspective for Aircraft MRO by
        Maintenance Segment – Percentage Share Breakdown of Revenues
        for Heavy Airframe Maintenance, Modifications, Components
        Maintenance, Engine Overhaul and Line Maintenance Markets
        for Years 2006, 2009, and 2015 (includes corresponding
        Graph/Chart)                                                    III-27

  4. Europe                                                             III-28
      A.Market Analysis                                                 III-28
        Current & Future Analysis                                       III-28
        Market Overview                                                 III-28
         Table 71: European Airlines Market (2000, 2005 and 2010p):
         Percentage Breakdown of Share by Airline Types – Network
         Carriers, Low Cost and Charter (includes corresponding
         Graph/Chart)                                                   III-28
        MRO Industry Shakeout                                           III-29
        Changing MRO Market Structures in Europe                        III-29
         The Old/Present MRO Structure                                  III-29
         Airlines                                                       III-29
         Airline-Affiliates                                             III-30
         Independents                                                   III-30
         Prime Manufacturers                                            III-30
         Component OEMs                                                 III-31
         New/Future MRO Market Structure                                III-31
        Eastern Europe Set to Become Low Cost MRO Hub                   III-32
         Table 72: Leading Players in the Russian Core Engine Repair
          Market (2006) (includes corresponding Graph/Chart)            III-32
        The Netherlands MRO Market                                      III-33
         Table 73: MRO Market in Netherlands (2008): Percentage
         Share Breakdown of Market Size by Major Segments – Engine,
         Components, Base, Line, Modifications and Spares (includes
         corresponding Graph/Chart)                                     III-33

         Table 74: Dutch Aircraft MRO Market (2007): Breakdown by
         Different Parameters – Segment, MRO Spend, Number of Active
         Aircrafts, and Percentage of MRO Outsourced                    III-33
        Recent Industry Activity                                        III-33
        Focus on Select Players                                         III-38
      B.Market Analytics                                                III-42
        Table 75: European Recent Past, Current and Future Analysis
        for Aircraft MRO by Maintenance Segments – Heavy Airframe
        Maintenance, Modifications, Components Maintenance, Engine
        Overhaul and Line Maintenance Markets Independently Analyzed
        with Annual Revenue Figures in US$ Million for the Years
        2006 through 2015 (includes corresponding Graph/Chart)          III-42

        Table 76: European Historic Review for Aircraft MRO by
        Maintenance Segments – Heavy Airframe Maintenance,
        Modifications, Components Maintenance, Engine Overhaul and
        Line Maintenance Markets Independently Analyzed with Annual
        Revenue Figures in US$ Million for the Years 2000 through
        2005 (includes corresponding Graph/Chart)                       III-43

        Table 77: European 10-Year Perspective for Aircraft MRO by
        Maintenance Segment – Percentage Share Breakdown of Revenues
        for Heavy Airframe Maintenance, Modifications, Components
        Maintenance, Engine Overhaul and Line Maintenance Markets
        for Years 2006, 2009, and 2015 (includes corresponding
        Graph/Chart)                                                    III-43

  5. Asia-Pacific                                                       III-44
      A.Market Analysis                                                 III-44
        Current & Future Analysis                                       III-44
        Market Overview                                                 III-44
         Table 78: Global Air Passenger Traffic (2006-2015):
         Breakdown of Growth Percentage by Regions – India, Middle
         East, Asia-Pacific, Latin America, CIS, Africa, Europe and
         North America (includes corresponding Graph/Chart)             III-44
      B.Market Analytics                                                III-45
        Table 79: Asia-Pacific Recent Past, Current and Future
        Analysis for Aircraft MRO by Geographic Region – China,
        India, Korea, and Rest of Asia-Pacific Markets Independently
        Analyzed with Annual Revenue Figures in US$ Million for the
        Years 2006 through 2015 (includes corresponding Graph/Chart)    III-45

        Table 80: Asia-Pacific Recent Past, Current and Future
        Analysis for Aircraft MRO by Geographic Region – China,
        India, Korea, and Rest of Asia-Pacific Markets Independently
        Analyzed with Annual Revenue Figures in US$ Million for the
        Years 2000 through 2005 (includes corresponding Graph/Chart)    III-46

        Table 81: Asia-Pacific 10-Year Perspective for Aircraft MRO
        by Geographic Region – China, India, Korea, and Rest of
        Asia-Pacific Markets for Years 2006, 2009, and 2015
        (includes corresponding Graph/Chart)                            III-46

        Table 82: Asia-Pacific Recent Past, Current and Future
        Analysis for Aircraft MRO by Maintenance Segments – Heavy
        Airframe Maintenance, Modifications, Components Maintenance,
        Engine Overhaul and Line Maintenance Markets Independently
        Analyzed with Annual Revenue Figures in US$ Million for the
        Years 2006 through 2015 (includes corresponding Graph/Chart)    III-47

        Table 83: Asia-Pacific Recent Past, Current and Future
        Analysis for Aircraft MRO by Maintenance Segments – Heavy
        Airframe Maintenance, Modifications, Components Maintenance,
        Engine Overhaul and Line Maintenance Markets Independently
        Analyzed with Annual Revenue Figures in US$ Million for the
        Years 2000 through 2005 (includes corresponding Graph/Chart)    III-48

        Table 84: Asia-Pacific 10-Year Perspective for  Aircraft MRO
        by Maintenance Segment – Percentage  Share Breakdown of
        Revenues for Heavy Airframe Maintenance, Modifications,
        Components Maintenance, Engine Overhaul and Line Maintenance
        Markets  for Years 2006, 2009, and 2015 (includes
        corresponding Graph/Chart)                                      III-49

  5a. China                                                             III-50
      A.Market Analysis                                                 III-50
        Current & Future Analysis                                       III-50
        Market Overview                                                 III-50
        China’s Aviation Market- New Growth Strategies                  III-51
        Recent Industry Activity                                        III-51
        Focus on Select Chinese Players                                 III-54
      B.Market Analytics                                                III-56
        Table 85: Chinese Recent Past, Current and Future  Analysis
        for Aircraft MRO by Maintenance Segments – Heavy Airframe
        Maintenance, Modifications,  Components Maintenance, Engine
        Overhaul and  Line Maintenance Markets Independently
        Analyzed  with Annual Revenue Figures in US$ Million for
        the Years 2006 through 2015 (includes  corresponding
        Graph/Chart)                                                    III-56

        Table 86: Chinese Historic Review for Aircraft MRO by
        Maintenance Segments – Heavy Airframe Maintenance,
        Modifications, Components Maintenance, Engine  Overhaul and
        Line Maintenance Markets  Independently Analyzed with Annual
        Revenue  Figures in US$ Million for the Years 2000  through
        2005 (includes corresponding  Graph/Chart)                      III-57

        Table 87: Chinese 10-Year Perspective for Aircraft  MRO by
        Maintenance Segment – Percentage Share Breakdown of Revenues
        for Heavy Airframe  Maintenance, Modifications, Components
        Maintenance, Engine Overhaul and Line  Maintenance Markets
        for Years 2006, 2009,  and 2015 (includes corresponding
        Graph/Chart)                                                    III-57

  5b. India                                                             III-58
      A.Market Analysis                                                 III-58
        Current & Future Analysis                                       III-58
        Market Overview                                                 III-58
        Aviation Market Highlights                                      III-59
        Recent Industry Activity                                        III-59
      B.Market Analytics                                                III-66
        Table 88: Indian Recent Past, Current and Future  Analysis
        for Aircraft MRO by Maintenance Segments – Heavy Airframe
        Maintenance, Modifications,  Components Maintenance, Engine
        Overhaul and  Line Maintenance Markets Independently
        Analyzed  with Annual Revenue Figures in US$ Million for
        the Years 2006 through 2015 (includes  corresponding
        Graph/Chart)                                                    III-66

        Table 89: Indian Historic Review for Aircraft  MRO by
        Maintenance Segments – Heavy Airframe Maintenance,
        Modifications, Components  Maintenance, Engine Overhaul and
        Line  Maintenance Markets Independently Analyzed with Annual
        Revenue Figures in US$ Million for the Years 2000 through
        2005 (includes corresponding Graph/Chart)                       III-67

        Table 90: Indian 10-Year Perspective for Aircraft  MRO by
        Maintenance Segment – Percentage Share Breakdown of Revenues
        for Heavy Airframe  Maintenance, Modifications, Components
        Maintenance, Engine Overhaul and Line  Maintenance Markets
        for Years 2006,  2009, and 2015 (includes corresponding
        Graph/Chart)                                                    III-67

  5c. Korea                                                             III-68
       Market Analysis                                                  III-68
        Table 91: Korean Recent Past, Current and Future  Analysis
        for Aircraft MRO by Maintenance Segments – Heavy Airframe
        Maintenance, Modifications,  Components Maintenance, Engine
        Overhaul and  Line Maintenance Markets Independently
        Analyzed  with Annual Revenue Figures in US$ Million for
        the Years 2006 through 2015 (includes  corresponding
        Graph/Chart)                                                    III-68

        Table 92: Korean Historic Review for Aircraft MRO by
        Maintenance Segments – Heavy Airframe Maintenance,
        Modifications, Components Maintenance, Engine  Overhaul and
        Line Maintenance Markets  Independently Analyzed with Annual
        Revenue  Figures in US$ Million for the Years 2000  through
        2005 (includes corresponding  Graph/Chart)                      III-69

        Table 93: Korean 10-Year Perspective for Aircraft  MRO by
        Maintenance Segment – Percentage Share Breakdown of Revenues
        for Heavy Airframe  Maintenance, Modifications, Components
        Maintenance, Engine Overhaul and Line  Maintenance Markets
        for Years 2006,  2009, and 2015 (includes corresponding
        Graph/Chart)                                                    III-69

  5d. Rest of Asia-Pacific                                              III-70
      A.Market Analysis                                                 III-70
        Current & Future Analysis                                       III-70
        MRO Market in Singapore                                         III-70
         Table 94: Singapore Aircraft MRO Market (2008): Percentage
         Share Breakdown by Overhaul Segments - Engines and Power
         Generation, Airframe Maintenance, Avionics & Systems,
         Aircraft Structures and Others (includes corresponding
         Graph/Chart)                                                   III-70
        Recent Industry Activity                                        III-70
        Focus on Select Player                                          III-73
      B.Market Analytics                                                III-75
        Table 95: Rest of Asia-Pacific Recent Past, Current and
        Future Analysis for Aircraft MRO by Maintenance  Segments –
        Heavy Airframe Maintenance, Modifications, Components
        Maintenance, Engine Overhaul and Line Maintenance Markets
        Independently Analyzed with  Annual Revenue Figures in US$
        Million for the Years  2006 through 2015 (includes
        corresponding  Graph/Chart)                                     III-75

        Table 96: Rest of Asia-Pacific Historic Review for Aircraft
        MRO by Maintenance Segments – Heavy  Airframe Maintenance,
        Modifications, Components Maintenance, Engine Overhaul and
        Line Maintenance Markets Independently Analyzed with Annual
        Revenue Figures in US$ Million for the Years  2000 through
        2005 (includes corresponding  Graph/Chart)                      III-76

        Table 97: Rest of Asia-Pacific 10-Year Perspective  for
        Aircraft MRO by Maintenance Segment –  Percentage Share
        Breakdown of Revenues for  Heavy Airframe Maintenance,
        Modifications,  Components Maintenance, Engine Overhaul  and
        Line Maintenance Markets for Years  2006, 2009, and 2015
        (includes corresponding Graph/Chart)                            III-77

  6. The Middle East                                                    III-78
      A.Market Analysis                                                 III-78
        Current & Future Analysis                                       III-78
        Market Overview                                                 III-78
        Recent Industry Activity                                        III-78
        Focus on Select Players                                         III-81
      B.Market Analytics                                                III-82
        Table 98: The Middle East Recent Past, Current  and Future
        Analysis for Aircraft MRO by Maintenance Segments – Heavy
        Airframe Maintenance, Modifications, Components Maintenance,
        Engine Overhaul and  Line Maintenance Markets Independently
        Analyzed  with Annual Revenue Figures in US$ Million for
        the Years 2006 through 2015 (includes  corresponding
        Graph/Chart)                                                    III-82

        Table 99: The Middle East Historic Review for Aircraft MRO
        by Maintenance Segments – Heavy Airframe Maintenance,
        Modifications, Components Maintenance, Engine Overhaul and
        Line Maintenance Markets Independently Analyzed with Annual
        Revenue Figures in US$ Million for the Years 2000 through
        2005 (includes corresponding Graph/Chart)                       III-83

        Table 100: The Middle East 10-Year Perspective for  Aircraft
        MRO by Maintenance Segment – Percentage  Share Breakdown of
        Revenues for Heavy Airframe Maintenance, Modifications,
        Components Maintenance, Engine Overhaul and Line Maintenance
        Markets  for Years 2006, 2009, and 2015 (includes
        corresponding Graph/Chart)                                      III-84

  7. Latin America                                                      III-85
      A.Market Analysis                                                 III-85
        Current & Future Analysis                                       III-85
        Market Overview                                                 III-85
        Major MRO Trends in Latin America                               III-85
         Table 101: Latin American Aviation Market (2007):
         Percentage Share Breakdown of Total Fleet by  Country –
         Brazil, Mexico, Colombia, Argentina,  Chile and Others
         (includes corresponding  Graph/Chart)                          III-86
         MRO Market in Latin America (2007): Leading  MRO Service
          Providers for Brazil, Mexico,  Peru, Chile, Colombia,
           Panama, El Salvador  and Costa Rica                          III-86
         Table 102: Latin American Engine Overhaul Market (2007):
         Percentage Share Breakdown by Engine Type -CF6-80C2, JT8D,
         CFM56-3, PW4000-94, JT8D-200, V2500-A1, CFM56-5C and Others
         (includes corresponding Graph/Chart)                           III-86

         Table 103: Latin American MRO Market (2007): Percentage
         Share Breakdown of Heavy Maintenance Demand by Supplier
         Type –Self, Airline Third Party, Independent, OEMs and
         Others (includes  corresponding Graph/Chart)                   III-87
        Brazil                                                          III-87
         Market Opportunities for Varied Aviation Sectors in Brazil     III-87
          Helicopters                                                   III-87
          Commercial and Corporate Aviation                             III-87
          Military Aviation                                             III-88
        Recent Industry Activity                                        III-88
        VEM/TAP M&E (Brazil) – A Key Player                             III-88
      B.Market Analytics                                                III-89
        Table 104: Latin America Recent Past, Current and  Future
        Analysis for Aircraft MRO by Maintenance  Segments – Heavy
        Airframe Maintenance, Modifications, Components Maintenance,
        Engine Overhaul and Line Maintenance Markets Independently
        Analyzed with  Annual Revenue Figures in US$ Million for the
        Years 2006 through 2015 (includes corresponding Graph/Chart)    III-89

        Table 105: Latin America Historic Review for Aircraft  MRO
        by Maintenance Segments – Heavy Airframe Maintenance,
        Modifications, Components Maintenance, Engine Overhaul and
        Line Maintenance Markets Independently Analyzed with Annual
        Revenue Figures  in US$ Million for the Years 2000 through
        2005  (includes corresponding Graph/Chart)                      III-90

        Table 106: Latin America 10-Year Perspective for Aircraft
        MRO by Maintenance Segment – Percentage Share Breakdown of
        Revenues for HMV & Mods, Components Maintenance, Engine
        Overhaul and Line Maintenance Markets for Years 2006, 2009
        and 2015 (includes corresponding Graph/Chart)                   III-90

  8. Africa                                                             III-91
      A.Market Analysis                                                 III-91
        Current & Future Analysis                                       III-91
        Market Overview                                                 III-91
        Recent Industry Activity                                        III-92
      B.Market Analytics                                                III-93
        Table 107: African Recent Past, Current and Future Analysis
        for Aircraft MRO by Maintenance Segments - Heavy Airframe
        Maintenance, Modifications, Components Maintenance, Engine
        Overhaul and Line Maintenance Markets Independently Analyzed
        with Annual Revenue Figures in US$ Million for the Years
        2006 through 2015 (includes corresponding Graph/Chart)          III-93

        Table 108: African Historic Review for Aircraft MRO by
        Maintenance Segments - Heavy Airframe Maintenance,
        Modifications, Components Maintenance, Engine Overhaul and
        Line Maintenance Markets Independently Analyzed with Annual
        Revenue Figures in US$ Million for the Years 2000 through
        2005 (includes corresponding Graph/Chart)                       III-94

        Table 109: African 10-Year Perspective for Aircraft MRO by
        Maintenance Segment - Percentage Share Breakdown of Revenues
        for Heavy Airframe Maintenance, Modifications, Components
        Maintenance, Engine Overhaul and Line Maintenance Markets
        for Years 2006, 2009, and 2015 (includes corresponding
        Graph/Chart)                                                    III-94


 IV. COMPETITIVE LANDSCAPE