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COMMERCIAL MRO 20 AUGUST/SEPTEMBER 2016 AIRCRAFT MAINTENANCE TECHNOLOGY the country. According to the AOT, the increase in air traffic was driven by the expansion of Thailand's tour- ism industry and low-cost airlines. In 2015, a total of 23 million tourists traveled to Thailand by air, which is an increase of 21 percent, compared to 19 million in 2014. Low-cost airlines in Thailand contributed with around 30 percent of the market share; low-cost aircraft movement increased by 29 percent, while passenger numbers increased by 34 percent from 2014. MRO SECTOR LARGELY UNTAPPED Thailand's MRO business still has great room for growth. This was witnessed by Aircraft Maintenance Technology during the July 2016 visit to Thailand. According to the Thailand's Office of Transport and Traffic Policy and Planning (OTP) and to Ministry of Transport, total MRO expenses from 2015 to 2024 are estimated to be about U.S. $167 billion (THB 5,990 billion) in the Asia-Pacific region. About 6.3 percent of that will occur in Thailand; in 2015 it generated about U.S. $772 million (THB 28 billion). Up to U.S. $10.6 billion (THB 380 billion) is forecasted for the next 10-year period. AEROSPACE INDUSTRIAL ESTATE DEVELOPMENT PLAN 2016-2045 The government's recognition of the opportunities that lie in Thailand's aerospace sector has led to the implementation of the Aerospace Industrial Estate Development Plan (2016-2045) at the new U-Tapao- Pattaya International Airport. This — former military used airport — is now being adapted for needs of tourism, and will serve the region south of Bangkok. Its official opening is scheduled for January/February 2017 with soft opening by late summer 2016. This Aerospace Development Plan is currently being executed in three phases, where the Aerospace Industrial Estate will utilize a total of 197 acres (80 hectares) of land; 60 percent will be dedicated to OEMs (original equipment manufacturers) and 40 percent to the MRO sector. At present, the focus is on Tier 3 compo- nent manufacturing and Tier 4 composite manufacturing for OEMs. As for MRO facilities, the present focus is on servicing airframes, engines, and their components. The top five components expected to bring in the most capital in Thailand are: Landing gear & wheels, auxiliary power units (APUs), in-flight entertainment components (IFE), engine fuel and control, and landing gear. THAILAND OFFERS MULTIPLE ADVANTAGES Aside from the tax and non-tax incentives provided by Thailand's Board of Investment (BOI) that is a main partner and help source for potential inves- tors, foreign investors can also benefit from many of Thailand's strengths in the aviation industry. Thailand has abundant land availability for the expansion of its booming aerospace industry and skilled labor at competitive costs is available, specially compared to other Asia-Pacific countries. Plenty of highly skilled labor is available in Thailand, trained in institutions that offer degrees in aerospace engineering, such as the Civil Aviation Training Center (CATC) and over 60 private and public universities. Thailand's location in the ASEAN Economic Community (AEC) and the Thai airline industry's solid connections to corresponding airline industries in ASEAN, presents investors with manifold oppor- tunities in the MRO business. Thailand has further, a well-established aerospace industry base and excel- lent linkage to automotive and electronics industries. Companies that have already invested in Thailand include among others Airbus, Senior Aerospace (for- mer Weston Aviation), Saab Thailand, Chromalloy, Triumph Aviation Services, Leistritz, Zodiac Aerospace, and GKN Aerospace. Forward thinking investors have in Thailand a ready base for taking advantage of the strong growth in Asia- Pacific's aviation industry, and can expect to reap great economic benefits. In July 2016 the AMT crew was able to visit one of