Airbus Projects Substantial 45% Growth In North American Market By 2042

European aircraft manufacturer, Airbus, predicts a strong growth in North America’s services market over the next couple of decades. With passenger appetite for travel growing strongly, the region is expected to see a steady increase in demand for services across the sector.

45% increase in commercial aircraft services market expected

According to Airbus, the commercial aircraft services market in North America will grow from $31 billion today to $45 billion by 2042. This projection is part of its larger global services forecast. The North American region will see strong growth in the sector, judging from its swift rebound after the pandemic.

Photo: Robin Guess | Shutterstock

The steady rise in passenger traffic and the addition of more aircraft will fuel growth in various sectors dealing with every phase of a plane, from delivery to the scrapyard and everything in between.

Maintenance, enhancement, and training market projections

Passenger-to-freight conversion will see significant growth over the next 20 years, which will see airplanes retire more sustainably. The used serviceable material and the aircraft conversion market together will be worth $17 billion in the next two decades. These will be part of the larger maintenance market, which will grow from $25.9 billion to $37.8 billion in the region. Dominik Wacht, Vice President-Customer Services, Airbus North America, commented,

Photo: Robin Guess | Shutterstock

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With a big push in aircraft cabin upgrades and overall infrastructure growth, the enhancement and modernization market will see the largest average annual growth (+4.1%) across the categories between 2023 and 2042.

Over the next two decades, this sector will be worth $4.1 billion from the current $1.9 billion, primarily driven by airlines going for cabin and system upgrades. The demand for aircraft connectivity will also see a surge in the coming years.

According to Airbus, around 60% of the fleet in North America is connected; this figure will rise to 90% by 2042. This is important, as a well-connected fleet in real-time will enhance communication with airline operations on the ground, in flight and for maintenance, and improve the overall passenger experience.

Photo: Angel DiBilio | Shutterstock

According to Airbus, the North American region will need 366,000 new skilled professionals by 2042. This will translate into an increase from 2.5 billion in 2023 to $3 billion in 2042 in the market for training and operations. The plane maker projects the need for 104,000 new pilots, 120,000 new technicians, and 142,000 new cabin crew members over the next two decades.

Global forecast

The overall market for commercial aircraft services globally will be massive by 2042. Airbus says that in the next 20 years, it will almost double in size to reach $255 billion “for the ‘Maintain’, ‘Train & Operate’ and ‘Enhance’ streams.”

Photo: Nieuwland Photography | Shutterstock

More than 17,000 aircraft will have to be replaced during this period, creating new employment opportunities, and around 2.2 million new workforce will be required by 2042.

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