According to the latest Global Services Forecast (GSF) by Airbus, the services market is expected to recover to pre-pandemic levels next year (2023), and to double in value over the next twenty (20) years — from US$95B today to more than US$230B in 2041. As a result, the number of people working in aviation services, keeping the world’s fleets flying on a daily basis, is set to increase by a further two (02) million.
“Every day millions of people in services, hidden champions behind the scenes, keep our global fleet of aircraft flying. Alone the number of pilots, cabin crews and maintenance specialists is set to grow by a further two million by 2041. Accelerated digitalization of operations and maintenance as well as a higher proportion of latest generation aircraft in service will lead to a massive requirement for new skills and job creation, leveraging new tools and ways of working in order to further increase our sector’s efficiency, reduce fuel consumption and emissions,” according to Philippe Mhun, Airbus EVP Programmes and Services.
A compounded annual growth rate of 3.7%, will lead to a doubling in the value of the services market in the next two decades with a bigger-than-ever demand for highly skilled labor: 585,000 new pilots, 640,000 new technicians, and 875,000 new cabin crews.
As operators focus more on their core business, services to improve aircraft availability and efficiency will increasingly be outsourced, boosting the market for those providers. These services will be driven by sustainability and enabled by digitalization, connectivity, and innovation, to maximize efficiency in support of CO2 net zero ambitions.
“The GSF confirms our strategy and we are ready. Customer experience is our priority. Customer value will be underpinned by excellence in sustainable services and new energy transition, fully leveraging our Airbus Skywise digital capabilities. Aviation services will remain one of the most advanced and international industries, keeping our customers and society at large at the heart of our operations,” added by Mhun.