The Middle East’s commercial aircraft services market will more than double in value by 2042, according to Airbus’ latest Global Services Forecast (GSF).
The sector is set to reach $28 billion, registering a 4.4% increase in value year-on-year, from the $12 billion it recorded last year, according to the report. Moreover, the regional expansion is expected to surpass the global average growth of 3.6%.
Currently, five of the world’s largest aviation cities are in the Middle East, including Dubai and Abu Dhabi, serving more than 10,000 long-haul passengers per day. Airbus estimates 3,120 new passenger and freight aircraft deliveries over the next 20 years, with the annual air traffic set to increase by 4.6% in the Middle East.
Airbus expects the market for ‘Maintenance’ to grow from $10 billion to $23 billion.
Meanwhile, the market for enhancements and modernisation is set to register the biggest average annual growth (5.5%) across the categories between 2023 and 2042, from $1.3 billion to $3.6 billion. This is driven specifically by cabin and system upgrades, which will be in particularly high demand until 2030 as part of fleet modernisation.
The market for training and operations is expected to double in 2042, reaching $1.6 billion.
As a result, Airbus anticipates a further 208,000 highly skilled professionals in the Middle East over the next 20 years, comprising 56,000 new pilots, 52,000 new technicians and 100,000 new cabin crew members.
Last year, Saudi Arabia’s flynas reported record growth, with passenger numbers up 28%, while Dubai International Airport recorded a 31.7% traffic increase, surpassing pre-pandemic figures.
Overall, the aviation sector is growing in the UAE, with Abu Dhabi airport recently stating it is expected to welcome over 22 million travellers by the end of 2023.