Airbus’s latest Global Services Forecast (GSF) for the Asia-Pacific region predicts that services demand in the region will reach US$138.7 billion by 2044.
With a compound annual growth rate (CAGR) of 5.2%, APAC is set to be the most dynamic aviation services market in the world. 19,560 new passenger aircraft will be required to meet travel demand, Airbus believe, as passenger traffic looks set to grow at 4.4% annually.
The GSF divides the services market in APAC into seven key sectors:
- Off-wing maintenance, worth US$100 billion in 2044, driven by expanding (and ageing) fleets. Supply chain challenges and labour shortages pose significant challenges to this segment.
- On-wing maintenance, worth US$14 billion in 2044 as key MRO infrastructure develops and expands in fast-growing markets like India, Indonesia, and Malaysia.
- Modifications and upgrades, worth US$6.2 billion in 20444. Airbus say cabin modernisation is being undertaken more regularly as airlines try and offer more premium products and the latest inflight connectivity (IFC) solutions in line with changing customer demand.
- Digital and connectivity, worth US$11.2 billion in 2044, driven by widespread adoption of AI and data analytics for predictive maintenance, improved flight ops, and labour shortage mitigation.
- Training, worth US$7.7 billion in 2044. Airbus predict that 1.06 million new aviation professionals will be required by 2044, including 282,000 pilots, 302,000 technicians and 473,000 cabin crew.
- Maintenance operations support, worth US$46.4 billion by 2044, and a key enabler for operators and MROS.
- Ground operations, worth US$31 billion by 2044 and undergoing complex restructuring as the sector incorporates automation and digital tools for improved performance.
Airbus conclude their notes on APAC by explaining:
As the aviation ecosystem continues to evolve, growth in services demand is increasingly concentrated in Asia-Pacific. Although mature markets will continue to provide scale, Asia-Pacific, driven by South Asia and China, will define the next phase of global aviation services growth, reshaping capacity, capabilities and investment priorities worldwide.
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