The economic difficulties of the Asia-Pacific region are a short-term challenge that offers the region an opportunity to take stock and re-emerge as an even stronger market for the long term, Clive Richardson, Asian Aerospace international sales and marketing director, said yesterday.
Speaking at the organisers' press conference, he said he remains confident that the industry in the region will prosper in the long term.
"Realistically, we know what is happening but my optimism is based on long-termism," he says.
The industry is likely to be affected in the region over "-two to three years, but I am looking beyond that two-to-three year cycle."
In answer to questions, he says there have been "a couple of withdrawals", mainly from American companies, but the major players are here in strength.
"I am encouraged by the reaction of companies like Boeing and Airbus Industrie to similar questions," he says.
"The aerospace industry has traditionally taken a long-sighted view, and this is reflected in the continued strong international support for what is Asia's premier aviation showcase," he says. "While the recent financial downturn has served to dampen demand for now in some countries, commercial and military purchases remain buoyant elsewhere."
Source: Flight Daily News