As global air capacity gradually recovers to pre-epidemic levels, the air services market is bursting with new growth dynamics.

　　On December 12, Airbus released the "Global Aviation Services Market Forecast" report in Beijing, which predicts that along with the recovery of global air travel and the growth of digitalization, intelligence and other new demands for services, the value of the global aviation services market will increase from US$130 billion in 2023 to US$255 billion in 2042, with China expected to overtake the U.S. and Europe and become the world's largest aviation services market.

　　The report points out that the global aviation services market will achieve value growth from maintenance, training and operation, as well as optimization and upgrading. The maintenance sector is expected to have the largest market growth potential in the next 20 years, with more than 17,000 aircraft expected to be retired by 2042, which will create market opportunities for secondary utilization, repair and recycling; in the training and operations sector, it is expected that by 2042 the world will need to train 2.2 million pilots, technicians and crew.

　　The challenges facing the aviation services market are no less. "The global aviation services market remains highly uncertain and is affected by a number of negative factors such as geopolitical crises, exchange rate fluctuations, instability in the global supply chain, and a slowdown in the recovery of the tourism industry." In an environment full of uncertainties, the Asian region, mainly China, carries the greatest hope for the future growth of the global air services market, with China's air services market share expected to rise to 21 percent globally in 2042, said Hu Yongdong, vice president of customer service strategy, development and operations at Airbus China.

　　Airbus forecasts that the value of China's aviation services market will reach US$54.1 billion in 2042, with a CAGR of 5.8%, and that more than 10,930 aircraft will be in service requiring services; the consequent growth in demand for pilots, technicians and crew will more than double, from 212,000 in 2023 to 561,000 in 2042; and that optimization and upgrading will be the market with the greatest growth potential market, with a compound annual growth rate of 6.5%.

　　Hu Yongdong said that the optimism of the Chinese market first comes from the optimistic expectations of China's economic outlook, driven by China's sustained economic recovery, the current domestic passenger and cargo transportation volume is growing rapidly, which will become a solid "chassis" of the growth of the aviation services market; at the same time, China's relevant policies are constantly strengthening the growth expectations, in the current China Meanwhile, China's relevant policies are continuously strengthening the growth expectation, and under the current policy background of accelerating the construction of a new development pattern in China, the modern transportation system, including the aviation industry, is developing rapidly; and the rapid implementation of China's "dual-carbon" policy will continue to stimulate the new green demand of the aviation service market, leading the global aviation service industry to accelerate its progress towards sustainable development.

　　"In the face of the future development trend of China's aviation service market and industry demand, Airbus will continue to adhere to the strategy of combining localization and globalization to further expand its aviation service business." Zhao Chen, vice president and head of customer service of Airbus China, said that in terms of operation support and guarantee, Airbus has established the company's only overseas all-weather emergency repair and guarantee center in China. Airbus' Full Life Cycle Service Center in Chengdu is expected to come into operation in January 2024. It is also the first one-stop service center for medium- and older-age aircraft in China to be led by the concept of sustainable development, and will provide Chinese aircraft operators with a full range of solutions such as modification and upgrading, airframe maintenance, dismantling and recycling, and trading of second-hand usable aircraft materials, etc., which are necessary for aircraft parking, subletting, and resuming operations. The solution.