Industry Airbus predicts $4.6 trillion worldwide market for commercial aircraft services
European manufacturer Airbus has stated, that the market for commercial aircraft services will surge in the coming 20 years.
Airbus has released a statement, in which the manufacturer predicts a $4.6 trillion big market for commercial aircraft services. The forecast was made for the years 2018 to 2037 (the next 20 years).
The statement was made over the course of the Farnborough International Airshow 2018 (FIA2018), which is being held this week.
Airbus´ forecast comprises a three-way market segmentation, consisting of the airline operation, the passenger experience and of course the aircraft itself.
Especially the maintenance for aircraft will represent a large segment of growth. With maintaining an aircraft comes the need to access a spares pool, having the right tools, technical training and system upgrades. According to Airbus, this market alone represents a value of $2.2. trillion in total over the next 20 years. Moreover, aircraft manufacturers provide its customers with core services such as call centers for AOG´s.
The flight operation services are also a big part in Airbus´ calculations. Flight-planning solutions or Pilot training will see a strong demand in growth. As Airbus stated a few weeks back, the French manufacturer sees a need for 540,000 new pilots in the coming 20 years. The trend will require more developments and new efficient technologies. The flight operation services will account for a $1.5 trillion spend in the next 20 years.
As a third component, Airbus sees the passenger experience as an important area for growth. This market segment will account for an estimated $0.9 trillion, according to Airbus. In-flight-entertainment, cabin crew training, cabin upgrades, booking platforms belong to a needed optimization in the flight experience for the customer. Especially the trend to real-time and seamless connectivity will see manufacturer develop new technologies.
Airbus furthermore presented a strategy in its statement. The manufacturer seeks to triple its services revenues from $3.2 billion in 2017 to reach $10 billion in the next decade. To reach that goal, Airbus said that it would put its interest in developing full lifecycle systems and programs. The new strategy will see Airbus expanding its service portfolio for non-Airbus platforms as well.
Source © airbus.com