SCHIPHOL-RIJK (dpa-AFX) - Airbus' new Global Services Forecast predicts a US$4.6 trillion worldwide market for commercial aircraft services from 2018 to 2037.
Aircraft-focused lifecycle services represent the largest segment of growth and include maintenance, spares pool access, tooling, technical training and system upgrades - which are needed to keep the airlines aircraft flying. This market represents a cumulative value of $2.2 trillion over the 20-year period - from $76 billion in 2018 to more than $160 billion per annum by 2037.
The third component of the global services market centres on the passenger experience which will account for an estimated $0.9 trillion cumulative value over the 20 year period. This encompasses the services needed to optimise the flight experience, including cabin upgrades, cabin crew training, in-flight-entertainment, connectivity and booking. This segment is expected to more than double in the next 20 years and grow from $27 billion to almost $70 billion.
Airbus' ambition is to triple its services revenues from more than $3.2bn in 2017 to reach $10bn of services revenues in commercial in the next decade. To attain this goal, Airbus will continue to develop full lifecycle integrated services for all Airbus' aircraft operators.
Airbus will also expand its current service portfolio to non-Airbus platforms, given that 62 percent of Airbus' total fleet is operated by 'multi-fleet' operators.
Separately, A new U.S. airline start-up announced a commitment today for 60 Airbus A220-300 aircraft, with deliveries beginning in 2021. The Memorandum of Understanding was revealed at the Farnborough Air Show. This new airline is backed up by a group of experienced investors led by David Neeleman, founder of JetBlue, investor in TAP in Portugal and controlling shareholder in Azul airlines in Brazil.
In addition, Airbus noted that New business revealed at the week-long UK aerospace gathering included another key endorsement for the A220 Family of jetliners, which has joined Airbus' single-aisle commercial aircraft portfolio. This endorsement came with a future U.S. airline start-up's commitment for 60 Airbus A220-300 versions, for deliveries beginning in 2021. The A220-300 is the A220 Family's longer-fuselage member, and will be used by the new airline that is backed by a group of experienced investors led by David Neeleman - the founder of JetBlue, investor in TAP in Portugal and controlling shareholder in Brazil's Azul airlines. Airbus' best-selling A320neo Family of single-aisle aircraft once again demonstrated its market leadership with a Memorandum of Understanding involving 25 A321neo and 75 A320neo aircraft for an undisclosed customer.
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