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Airbus predicts the aircraft services market is $4.9 Trillion over next 20 years.

Airbus predicts that the value of the aircraft services market over the next 20 years will be nearly equal to the value of new aircraft sales: with an estimated global market valuation of $4.9 Trillion.

The European manufacturer earned $3.7 Billion in aircraft services revenue in 2018, a 14% increase over 2017 and expects to earn more than $10 Billion in services revenue over then next decade.

Services are shifting from traditional maintenance, training and aircraft upgrades, to advanced aircraft health and operations digital solutions which help airlines contain costs and avoid service disruptions. Airbus has launched a Skywise digital platform during the 2017 Paris Air Show to compete with Boeing AnalytX.

"Airlines are facing a fierce competitive environment with a growing traffic but decreasing yields. They need to focus on their core business-transporting passengers from A to B- they want zero surprises, they need to rely on a robust ecosystem of services: to optimize aircraft availability; to streamline their operations; to differentiate with the in-flight experience," Remi Maillard, Senior VP of Airbus Services said during a briefing in Paris last week.

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Publication:AirGuide Business
Date:Jun 26, 2019
Words:287
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