Airbus forecasts Asia-Pacific aviation services market to reach US$138.7 Billion by 2044
Source: Airbus In its latest Global Services Forecast (GSF) for Asia-Pacific (including China and India), Airbus anticipates that total services demand in the region will grow at a 5.2% compound annual growth rate (CAGR) through 2044, reaching an estimated market value of US$138.7 billion. This sustained growth will be underpinned by expanding air traffic and fleet growth. Over the next 20 years, Asia-Pacific will require 19,560 new passenger aircraft, accounting for 46% of total global demand during the forecast period. The region is also expected to remain the world’s fastest-growing air travel market, with passenger traffic rising at 4.4% annually, well above the global average of 3.6%. The Airbus GSF identifies five key services segments that will drive this growth [...]