China is set to overtake all rivals as the world's largest aviation services market by 2044, with its value projected to soar from 24.8 billion U.S. dollars in 2025 to 63.8 billion, Airbus said in its latest Global Services Forecast released Thursday.
The report highlights a significant shift in the focus of after-sales services toward the east. Among the various sectors, digital and connectivity services are expected to experience the fastest growth, with market values soaring from 1.4 billion U.S. dollars in 2025 to 5.1 billion U.S. dollars by 2044.
China holds the title of the largest single-country market for Airbus in terms of fleet size. The company anticipates that China will take delivery of approximately 9,570 new aircraft over the next 20 years, further boosting demand for comprehensive services throughout the aircraft lifecycle.
Highlighting China’s rapid growth in aviation services, Amaya Rodriguez Gonzalez, Airbus's vice president of aftermarket strategy customer services, told CGTN in Beijing that digital connectivity services will drive the fastest growth over the next two decades.
"In terms of opportunity, definitely we see the market dedicated to digital and connectivity as one of the highest growth markets for the next 20 years. In terms of size, it will grow from 9 million in 2025 to around 26 billion by 2044 with a compounded annual growth rate of 5.6 percent, which is the highest of all the markets. What we can see is that actually China will become the largest market in terms of services demand by 2044. We're talking about taking a market share today of around 15 to 16 percent out of the total services a month to around 20 percent by 2044. We're talking about reaching our services amount of 64 billion U.S. dollars by that time," said Amaya Rodriguez Gonzalez, vice president of aftermarket strategy customer services, she said.