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Demand for passenger air travel and cargo traffic remains soft. Current market forecasts of worldwide airline capacity reductions in 2009 continue to range from decreases of 5 percent to 10 percent from 2008 levels with forecasted MRO spending down 10% percent to 15 percent for overhaul and repairs services and 15 percent to 25 percent for replacement parts during the same period due to capacity reductions, inventory destocking and short-term maintenance deferrals. We have been able to offset a substantial portion of this market decline by accelerated new product development efforts and additional market penetration.
HEICO, aftermarket, mro, parts, om99
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