FARNBOROUGH – Airbus is looking to more than treble its commercial services revenues from $3.2 billion last year to $10 billion over the next decade, it revealed on Tuesday (July 17).
The airframer confirmed its intent at a media briefing to unveil the new Airbus Global Services, which forecast a $4.6 trillion worldwide market for commercial aircraft services from 2018 to 2037.
According to Airbus’ analysis, based on three segments of the aircraft, airline operation and the passenger experience, the largest services growth share will emanate from the aircraft, predicted to have a cumulative value of $2.2 trillion over the 20 years and rising from $76 billion in 2018 to more than $160 billion per annum by 2037.
This segment, according to Philippe Mhun, vice president of customer services, factors in aircraft maintenance, spares pool access, tooling, technical training and system upgrades.
Mhun says since consolidating its commercial services business last year, the division has experienced growth rates of 18% year over year. Activities included growing its global training centers from five locations to 17 and winning cabin upgrade work from American Airlines for its A321 fleet.
At the 2017 Paris Airshow, it also unveiled its Skywise open data platform, which has since grown to 22 new customers and now covers more than 2,500 connected aircraft.
To achieve its $10 billion target, Mhun says the company will continue to develop full lifecycle integrated services for Airbus aircraft operators. Integrated services such as its Flight Hour Services (FHS) maintenance offering, will increase in efficiency due to operating with Skywise, he adds.
It also intends to extend its current service portfolio to non-Airbus platforms, because according to Mhun, 62% of the OEM’s global fleet is flown by operators with mixed-fleets of aircraft types.