Airbus sees sharp rise in aircraft services as fleets grow

PARIS (Reuters) -Airbus is predicting 3.6% average growth in aircraft services over the next 20 years, creating jobs for 2.35 million pilots, mechanics and other workers to meet air travel growth. The European planemaker is one of several aerospace companies that have made a push into services alongside their traditional manufacturing roles in recent years to compete with independent providers for higher-margin aftermarket work. Airbus said it expected the total value of the services market to reach $311 billion a year by 2044. Demand for so-called off-wing maintenance or repair shop visits will more than double in value to $218 billion over the period, with on-wing or light inspections and other routine maintenance rising to $34 billion from $21 billion. Airbus executives said global supply chains, which feed repair networks as well as factories for new planes, are still in recovery following the COVID-19 pandemic but are improving. The core Airbus planemaking business made 10% of its revenues from services in 2024. In June, Boeing forecast a total demand for $4.7 trillion worth of commercial services spread over the next 20 years based on an annual average growth of 3.8%. (Reporting by Tim Hepher; Editing by Emelia Sithole-Matarise)

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