Airbus has released its aviation services market forecast for the Asia-Pacific region.
Driven by growth in air traffic and an increase in the number of aircraft, services demand is expected to expand at an average annual rate of 5.2% through 2044, with the market size projected to reach 138.7 billion US dollars.
Over the next 20 years, Airbus forecasts the need for 19,560 new passenger aircraft in the region, accounting for 46% of global demand, and expects passenger traffic to grow by 4.4% per year.
In the same region in 2044, spending is forecast to reach 100 billion US dollars on off-wing maintenance, 14 billion US dollars on on-wing maintenance, 6.2 billion US dollars on modifications and upgrades, 11.2 billion US dollars on digital and connectivity, 7.7 billion US dollars on training, and 46.4 billion US dollars on maintenance operations support.
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