APAC Aviation Services to Hit $138.7B: Airbus Forecast

Core Projections

Airbus has released its Global Services Forecast, projecting that the Asia-Pacific aviation services market will reach $138.7 billion by 2044. The market is expected to grow at a compound annual rate of 5.2%.

Market Overview

This substantial growth is fueled by rapidly expanding air traffic and significant fleet expansion across the region. Passenger traffic in Asia-Pacific is forecast to increase by 4.4% annually, exceeding the global average of 3.6%. Consequently, the region is expected to require 19,560 new passenger aircraft over the next 20 years, accounting for 46% of total global aircraft demand.

Key Growth Segments

The forecast highlights several key service segments. Off-Wing Maintenance is projected to be the largest, growing to $100 billion by 2044. Other critical areas include On-Wing Maintenance, expected to reach $14 billion, and Digital & Connectivity services, which are projected to hit $11.2 billion. This expansion will also create a demand for over 1.06 million new aviation professionals.

Summary

The Asia-Pacific region, particularly South Asia and China, is poised to lead the next phase of global aviation services growth. This trend will significantly influence worldwide capacity, capabilities, and investment priorities in the coming decades.

FAQ

Q: What is the projected value of the Asia-Pacific aviation services market by 2044?
A: Airbus forecasts the market will reach $138.7 billion by 2044, with a 5.2% compound annual growth rate.

Q: What are the main drivers of this growth?
A: The primary drivers are expanding air traffic and significant fleet expansion throughout the Asia-Pacific region.

Source: Investing.com