Connectivity will contribute to 20-year doubling of global services market: Airbus

Airbus expects a virtual doubling of the commercial aircraft services market, to $255b, over the next 20 years, driven by digital aircraft capabilities and rising traffic. Maintenance will account for the largest share, around $210b in 2042, while training and operation will generate $17b, and aircraft enhancement another $28b. This will create a demand for 2.2m personnel – comprising 680,000 technicians, 590,000 pilots and 920,000 cabin crew – over the next two decades. Airbus disclosed the prediction in its latest global services forecast on 29 November. It states that China will become the largest market for services by 2042, with an overall value of $54b, ahead of Europe with $48b and North America at $45b. The rest of the Asia-Pacific region will be worth $43b. South Asia, China and the Middle East will experience the fastest growth in the sector, the airframer adds. Airbus points out that nearly 17,200 commercial aircraft are likely to be withdrawn from service over the period.<br/>