North America's Commercial Aircraft Services Market to Reach $45 Billion by 2042, Airbus Forecasts
By Mauro Orru
Airbus expects the North American commercial aircraft services market to grow $14 billion and reach about $45 billion in value by 2042, as airlines continue to add aircraft to their fleets to meet rising demand for air travel.
The European plane maker said Monday that the maintenance market in the region should grow to $37.8 billion from $25.9 billion, according to its latest forecasts, while cabin, system upgrades and demand for aircraft connectivity should lift the market for enhancements and modernization to $4.1 billion from $1.9 billion.
"North America is a region of choice when we think about aftermarket services, with many opportunities for additional efficiency, simplification and sustainable operations," said Dominik Wacht, vice president of customer services at Airbus North America.
Airbus expects some 366,000 new skilled professionals will be needed in North America over the next two decades, with 104,000 new pilots, 120,000 technicians and 142,000 cabin crew. The market for training and operations is expected to increase to $3 billion in 2042 from $2.5 billion in 2023.
Write to Mauro Orru at mauro.orru@wsj.com
(END) Dow Jones Newswires
April 08, 2024 12:36 ET (16:36 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
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