For Aerospace Industry, Recovery Remains Ahead

After a year of hard-fought recoveries in the aviation industry, resulting in the arrival of 31 million international tourists to Mexico as reported by the Ministry of Tourism, further wins are needed to make up for pandemic losses. The EU plans to expand flight destinations to get closer to recovery while Mexico will host FITMA this month to bring networking opportunities to companies across the aerospace industry.

This week in aviation and aerospace:

What Comes Next for the Aerospace Industry?

Although great strides continued to be made in the search for a recovery from the developing COVID-19 pandemic, industry insiders estimate another three to four years before a full recovery can be reached for the aerospace sector. The industry may have been one of the hardest hit during the past two years but numbers show a steady recovery beginning as travel restrictions ease even amid the Omicron variant, particularly in Mexico. Current and future virus variants might determine the further recovery of the industry during 2022.

Mexico Receives 31 million Tourists in 2021

The Ministry of Tourism (SECTUR) reported US$18.5 billion in revenue from international tourists coming to Mexico in 2021. This represents a wider trend of recovery for the national economy, where the tourism sector’s presence expanded from 6.7 percent of Mexico’s GDP in 2020 to 7.1 percent in 2021 before an anticipated 8.3 percent in 2022. A successful closing to 2021 largely came due to the country’s lack of travel restrictions, which could mean further recovery in 2022. 

EU’s Recovery to Amplify Flight Connectivity

The EU’s aviation industry, in search for a faster recovery during 2022, is opening new flights, several of which will come to Mexico. Mass vaccination campaigns in the continent allowed for a rapid recovery during 2021 but the losses due to the pandemic were even larger; US$21 billion were lost throughout 2019. Numerous flights have been set in motion across popular Mexican destinations for national and international travelers and more are in talks between local officials and airlines from the EU.

FITMA: New Meeting Point for the Manufacturing Industry

The International Expo of Technology and Manufacturing for Latin America (FITMA) will be held Jan. 18-20 at Centro Citibanamex, Mexico City, and host innovative tech and manufacturing companies to discuss industry innovations, trends and opportunities, Arturo Morales, Director of Events and Marketing, Gardner Business Media, told MBN.