Airbus expects the global aviation services market to more than double by 2045 as airlines expand their fleets and demand for aircraft maintenance, repairs and digital services increases.
The company’s latest forecast, released Wednesday, projects the market will exceed $420 billion annually, growing at an average rate of 3.8% per year.
Airbus expects the global commercial aircraft fleet to reach 45,550 aircraft, while annual passenger traffic doubles to 10 billion. Meeting that demand will require an estimated 2.44 million additional aviation professionals, including 730,000 maintenance technicians, 660,000 pilots and 1.05 million cabin crew members.
Maintenance is expected to account for the largest share of the market. Airbus forecasts that off-wing maintenance, which involves removing components or engines for work at repair facilities, will reach $217 billion.
Other growth areas include maintenance support, aircraft upgrades and digital services. Airbus expects digital services and connectivity to grow 5.3% annually, reaching $27 billion.
Europe, the Commonwealth of Independent States, North America and China are expected to remain the largest markets by total demand.
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