CHICAGO (dpa-AFX) - Boeing (BA) on Tuesday released a forecast for aerospace services demand, projecting the need for expansive services over the next 10 years, valued at $2.6 trillion dollars.
At its Services Market Outlook, unveiled at the Paris Air Show, the company stated that North America and Europe will remain the largest commercial services markets, while the fastest growth over the next 10 years will occur in Asia. Overall, Boeing expects the total commercial aviation support and services 20-year market to be worth almost $8.5 trillion between 2017 and 2036.
The report pointed out the tremendous potential for growth in the aerospace services markets Boeing serves. These include Maintenance, engineering and upgrades, information services and analytics as well as Training and professional services.
Stan Deal, president and CEO of Boeing Global Services, said, 'It is clear that our customers, in both commercial and government sectors, are searching for more efficient ways to keep their fleets operating and ready for use in an age of rapid technological advancement.'
In government services, growth of the United States market, currently the largest individual market, will remain flat. But international markets adding rotorcraft and commercial derivative aircraft, led by Middle East and Asia-Pacific customers, are expected to grow.
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