Airbus:$ 45 Billion N. America Aircraft Service Market by 2042

By 2042, the North American professional aircraft services market is expected to reach US$ 45 billion, which is a 45 % increase over the US$ 31 billion mark. In the wake of the crisis, North America emerged as one of the earliest and most adaptable areas to return. According to Airbus ‘ most recent Global Market Forecast, the rise in demand for domestic and international flights last year indicated a growing preference for air travel. In the region, passenger traffic is expected to maintain a stable compound annual growth rate ( CAGR ) of 2.1 %, as stated in the most recent Global Market Forecast.
The rise in company requirement will be seen in all aspects of aviation operations as a result of the boost in quarterly air travel, the expansion of fleets, and the need for technologically advanced and connected planes. These encompass anything from first delivery to the plane’s future retirement, including ship upkeep, modernization, and training.
Airbus anticipates a 2.2 % Rate over the next 20 years in the maintenance sector, which will increase from US$ 25.9 billion to US$ 37.8 billion. In addition to this overall, the passenger-to-freighter change and used decent materials segments are anticipated to have a combined estimated market value of US$ 17 billion over the next 20 years, which will help to develop a lasting strategy to address aircraft retirement.
Between 2023 and 2042, the market for enhancements and modernization is projected to experience the highest average annual growth rate ( + 4.1 % ) compared to other categories, increasing from US$ 1.9 billion to US$ 4.1 billion. This growth is primarily driven by the need to upgrade the cabin and system, especially as part of the fleet and air traffic infrastructure’s modernization, which will take place until 2030. Additionally, the expansion of aircraft connectivity is a significant factor driving this growth. Currently, nearly 60 % of the North American fleet is connected, but by 2042, it is expected that 90 % of the fleet will be connected in real time. This will facilitate improved communication with airline operations on the ground, during flight, and for maintenance purposes, while also enhancing the overall passenger experience.
The training and operations market is projected to witness a rise from US$ 2.5 billion in 2023 to US$ 3 billion in 2042 ( + 0.8 % ). After three years of rapid expansion, a period of stability will follow this growth trend, which will help the industry recover from the workforce reduction brought on by the pandemic. In the coming two decades, Airbus foresees a demand for 366, 000 proficient individuals in North America, including 104, 000 pilots, 120, 000 technicians, and 142, 000 cabin crew members.
Dominik Wacht, Vice President- Customer Services at Airbus North America, emphasized the importance of North America as a top market for aftermarket services. He highlighted the numerous prospects available for enhancing efficiency, streamlining processes, and promoting sustainable operations. Airbus continues to play a crucial role in helping airlines and the aviation industry as a whole capitalize on these opportunities.
SubscribePrintEmailXFacebookLinkedInTelegramWhatsAppVKMessengerSMSRedditFlipboardPinterestTumblrXingBufferHacker News LineMixPocketYummlyCopySOURCE: Airbus:$ 45 Billion N. America Aircraft Service Market by 2042 BY: eTurboNews | eTN 

Aviation News – eTurboNews | eTNRead More