The two aircraft manufacturing giants, Airbus and Boeing, have forecasted a need for more than 40,000 new aircraft in the next 20 years. These aircraft include the replacement of existing current-generation aircraft and new editions to the ever-growing market.
Airbus and Boeing have also forecasted a significant need for aviation personnel to serve the aviation market in the future. That includes pilots and cabin crew, digital technology personnel, flight operation personnel, and maintenance and overhaul services technicians and engineers.
Boeing shows that over 2.2 million aviation personnel will be needed in the next two decades to support the growing demand for air travel and aircraft. While airlines are still faced with supply chain issues and labor shortages, the future of aviation is bright. The American aircraft manufacturer states in its 2023 Commercial Market Outlook (CMO),
“Exiting the pandemic, many airlines are assessing their future networks, and simplifying their fleet to improve operations and reduce cost. Almost 40% of airlines have removed at least one airplane family from their active fleet since 2019.”
The demand for more aircraft and aviation personnel also means significant growth in aviation services will be seen. Boeing states in its CMO that aviation growth and replacement aircraft will drive services valued at $3.8 trillion by 2042. This article highlights the various areas where these services are forecasted to be used and the contribution in each sector.
Training and Pilot Services
Boeing shows that 5% of total aviation services will be required in the training and pilot services by 2042. More and more airlines are requiring new pilots for their growing operations. The pilots are also put through required initial and recurrent training.
Digital Solutions and Analytics
Aircraft operations rely on digital services, analytics, and reporting for planning, efficiency, and safety. Air Traffic Controllers (ATC) also provide essential digital services for the aircraft on the ground and in the air.
Photo: Satcom Direct
Boeing forecasts that 6% of total aviation services will be utilized in Digital Solutions and Analytics in the next 20 years.
Maintenance, Repair, Overhaul, & Modifications
Maintenance, Repair, and Overhaul (MRO) ensure aircraft operations are smooth and required maintenance is completed at regular intervals. Apart from aircraft and engine manufacturers, third-party companies also provide MRO services on aircraft, engines, and other components. Boeing forecasts that 30% of total aviation services will be utilized in Digital Solutions and Analytics in the next 20 years.
Parts and Distribution Services
Parts distribution and supply chain are essential to keeping aircraft operations running. The aviation supply chain must be closely controlled to ensure all materials (from raw materials to individual components and assemblies) follow a proper routing and are tracked.
Photo: Airbus.
These parts can either be newly manufactured or used in serviceable condition to be reused on aircraft. Boeing forecasts that 39% of total aviation services will be utilized in parts and distribution services in the next 20 years.
What are your thoughts on the value of aviation services forecasted for the next twenty years? Do you work in aviation services? Share your opinion or experience in the comments section.