PARIS (Reuters) – Airbus expects aviation services to grow by an average of 3.6% over the next 20 years, creating jobs for 2.35 million pilots, mechanics and other air transport employees to meet the sector’s growth.
The European manufacturer, like other aeronautical companies, has in recent years launched into services in addition to its traditional manufacturing activities in order to compete with independent providers in the after-sales services market, where margins are higher.
Airbus said it expected the total value of the services market to reach $311 billion (268.85 billion euros) annually by 2044.
Demand for off-wing or repair shop visits will more than double in value to $218 billion during this period, while on-wing or light inspections and other routine maintenance will increase from $21 billion to $34 billion.
Global supply chains, which feed repair networks as well as factories manufacturing new planes, are still recovering from the Covid-19 pandemic, but improving, according to Airbus executives.
In 2024, services represented 10% of Airbus’ core business revenue.
In June, Boeing forecast total demand for commercial services worth $4.7 trillion over the next 20 years, based on average annual growth of 3.8 percent.
(Reporting by Tim Hepher; Mara Vîlcu for the , editing by Kate Entringer)
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