Never giving up is one of the key contents of Laura Roke‘s, Magnetic Engines Sales Executive‘s, success formula. Laura shared some of her expert insights on the current state of the engine maintenance market – check out the link as she shares them in our 3 Questions With… feature!
What is the current state of the engine maintenance market, and how does it affect Magnetic Engines?
Let’s start from market statistics: the total global fleet size currently counts 28,083 aircraft, of which 22,764 are active and 5,319 are grounded. In comparison to the previous month, the active global fleet has increased by 4%, while the number of grounded aircraft has decreased by 12%. The active aircraft fleet grew by 22% from September 2020 to September 2021.
These statistics show the positive signs – and we also feel it at Magnetic Engines. The last few months have been busy for us – the engine workshop is fully crowded with CFM56 engines repairs and will keep going on the same path till the end of 2021 and the beginning of 2022. Such demand for engine hospital repairs has few explanations: the market is re-shaping, and operators and asset owners are looking for a customized solution for each asset - fewer investments and shorter lead time to keep engines in the air as much as possible.
What is the current state of the engine trading market?
The figures show a positive market recovery. However, there’s still the feeling of the “slow-motion” in terms of assets transactions. Due to pandemic as well as seasonal implications, clients are not in a hurry to acquire engines or planes; each purchase decision is very measured and reasoned – but this is a natural market reaction, and we are staying positive and agile, ready to support our customers whenever they need us.
Do you have any personal success formula’s that keep you going and achieving your goals?
I am a big fan of the formula, stating that success depends on 1% luck, 1% talent and 98% never giving up!