Aircraft manufacturer Airbus expects the global market for aviation services to double to more than 420 billion dollars by 2045. This corresponds to average annual growth of 3.8 percent.
Growth is being driven by a growing global aircraft fleet, which is expected to reach 45,550 aircraft in 2045, while the number of air passengers doubles to 10 billion.
The market for off-aircraft maintenance is expected to reach 217 billion dollars, while maintenance support is estimated to generate 104 billion dollars in revenue. Digital services and connectivity are expected to grow fastest, at 5.3 percent annually, to 27 billion dollars.
Airbus also estimates that the aviation industry will need to recruit an additional 2.44 million people during the period, including 730,000 maintenance technicians and 660,000 pilots.
Europe, North America and China are expected to remain the largest markets, while Asia is showing the fastest growth.
