Currently valued at $52 billion, the Asia-Pacific commercial aircraft services market is expected to grow to $129 billion. The primary driver for this growth is the region’s demand for over 19,500 new aircraft, alongside an increase in passenger air traffic, which is growing at a compound annual growth rate (CAGR) of 4.81%. This rising demand for services will be reflected across all stages of an aircraft’s lifecycle, from delivery to end-of-life solutions. This includes fleet maintenance, aircraft modernization, and training. Factors contributing to this growth include increasing yearly air traffic, fleet expansion, and the need for more digitally enabled and connected aircraft.
Specifically, the maintenance market in Asia and the Pacific is expected to grow from $43 billion to $109 billion, representing a CAGR of 5.0%. The Training and Operations sector is anticipated to increase from $4.1 billion in 2024 to $7.6 billion by 2043, with a CAGR of 3.3%. Similarly, the Enhancements and Modernization sector is projected to develop from $5.1 billion to $13 billion, reflecting a CAGR of 5.1%.
Over the next 20 years, Airbus estimates that the region will require an additional 999,000 trained professionals, accounting for over 45% of the world’s aviation workforce. This includes 268,000 new pilots, 298,000 new technicians, and 433,000 new cabin crew members. In terms of aftermarket services, the Asia-Pacific region is expected to experience the most significant expansion and activity, presenting numerous opportunities for enhanced efficiency, simplification, and ethical business practices. Airbus aims to play a crucial role in assisting airlines and the aviation sector in capitalizing on these opportunities.
