As many as 540,000 new pilots will be needed in the next 20 years, according to Airbus’ new Global Services Forecast.
The forecast predicts a US$4.6 trillion worldwide market for commercial aircraft services from 2018 to 2037. Aircraft-focused lifecycle services will see the largest growth.
The new analysis is based on a three-way market segmentation, focusing on the aircraft, the airline operation, and the passenger experience. Aircraft-focused lifecycle services, which include maintenance, spares pool access, tooling, technical training and system upgrades, will grow from 76 billion in 2018 to more than US$160 billion per year by 2037. The sector alone will have a cumulative value of US$2.2 trillion over the forecast period.
Flight operations services, which include pilot training and flight-planning solutions, will account for a US $1.5 trillion cumulative spend over 20 years. Fleets are expected to more than double to 48,000 aircraft over this period.
The passenger experience improvement segment, which includes cabin upgrades, cabin crew training, in-flight-entertainment, connectivity and booking, more than double in the next 20 years and grow from US$27bn to almost US $70bn. The sector alone will account for an estimated $0.9 trillion cumulative value over the period.
Airbus, which has seen an 18 percent annual growth in its services revenues for the past two years, expects to triple its services revenues from US$3.2bn in 2017 to reach US $10bn of services revenues in commercial in the next decade. The company plans to expand its current service portfolio to non-Airbus platforms, given that 62 percent of Airbus’ total fleet is operated by ‘multi-fleet’ operators.
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