Airbus planning for significant expansion in aviation sector

The commercial aircraft services market will nearly double in value to $255bn by 2042, according to aircraft manufacturer, Airbus, which employs 3,000 staff at its plant in Filton, near Bristol.

The group’s latest Global Services Forecast (GSF), reflecting the ‘Maintain’, ‘Train & Operate’ and ‘Enhance’ categories, says rebounding air traffic, as well as demand for digitally-enabled and connected aircraft, is driving this momentum.

The GSF sees more than 17,000 aircraft being replaced between now and 2042, as a result of continuous fleet modernisation and investment in latest generation aircraft. This will create growing market opportunities to reuse, repair and recycle.

Cristina Aguilar Grieder, senior vice president customer services at Airbus, said: “Airbus is well positioned to answer today’s and future services needs in order to support the industry doing more with less, increasing efficiency while reducing fuel consumption, emissions and noise.”

Airbus expects the market for ‘Maintenance’ to grow from $108bn to $210bn. The market to ‘Enhance’ aircraft is expected to grow from $11bn annually to $28bn, and the market for ‘Train and Operate’ from $11bn to $17bn in 2042.

As a result, Airbus foresees a need for an additional 2.2 million highly skilled people over the next 20 years, consisting of 680,000 new technicians, 590,000 new pilots and 920,000 new cabin crew.

Global aviation services will see its biggest growth in South Asia, China and the Middle East, the manufacturer says.

The regions with the highest market volume remain North America, Europe, China and Asia-Pacific.