Airbus has today released their latest Global Services Forecast (GSF) which projects that the commercial services aircraft market to recover to pre-pandemic levels by 2023, and to double in value over the next 20 years, from $95B today to over $230B by 2041.
On Thursday (October 6, 2022), Airbus released their latest Global Services Forecast (GSF). The company expects the commercial services market to recover to pre-pandemic levels by 2023 and to more than double over the next 20 years from $95 billion today to over $230 billion by 2041. With this projected growth, the number of people working in aviation services, keeping the world’s fleet flying will require an additional two million professional workers.
Airbus' Latest GSF Projects the Need for Over 2.0 Million New Aviation Professionals Over the Next 20 Years - Courtesy Airbus
In Thursday’s announcement, Airbus’ EVP – Programmes and Services, Philippe Mhun, said,
“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 digitalisation 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.
“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.”
Illustration of Aircraft Market Services Growth From 2019 Through 2041 - Courtesy Airbus
Airbus projects that a compounded annual growth rate of 3.7 percent will lead to a doubling in the value of the services market in the next two decades, resulting in the highest-ever demand for highly skilled labor, including 585,000 new pilots, 640,000 new technicians and 875,000 new cabin crew members. Airbus further projects that as operators focus on their core business, service to improve aircraft availability and efficiency will be increasingly outsourced, while driven by sustainability in support of the industry's CO2 net zero ambitions.
Source: Airbus