Thu, Jul 12, 2012
Estimates A $2.4 Trillion Services Market Over Next 20 Years
The market for commercial aviation services will grow to $2.4 trillion market over the next 20 years, according to a forecast released Monday by Boeing at the Farnborough Air Show.
Lou Mancini, senior vice president, Commercial Aviation Services, Boeing Commercial Airplanes, said the market for services is expected to grow at an annual rate of four percent in the next two decades, with growing opportunities to help aviation customers succeed in a highly competitive marketplace. "Airlines are looking for every possible advantage to succeed, from efficiencies in maintenance services to breakthroughs in flight operations and information technology," Mancini said. "Demand for this kind of support and services is only going to grow as fuel prices remain high, fleet size increases and airlines look for ways to improve their overall operations and reduce costs while focusing on their core business, serving passengers."
The Boeing outlook for commercial aviation services projects long-term growth in the MRO (maintenance, repair and overhaul) market as demand grows for parts and other MRO solutions. Additionally, emerging systems and information integration within airline maintenance engineering, flight operations and information technology departments will drive an increased need for enterprise-wide solutions.
"Boeing has the ability to create unparalleled integrated solutions," Mancini said. "We know the airplane better than anyone, we have the resources to bring innovations to market and we are there with our customers 24/7 and 365 days a year to give them the ultimate competitive advantage."
More News
Aero Linx: International Business Aviation Council Ltd IBAC promotes the growth of business aviation, benefiting all sectors of the industry and all regions of the world. As a non->[...]
"During the annual inspection of the B-24 “Diamond Lil” this off-season, we made the determination that 'Lil' needs some new feathers. Due to weathering, the cloth-cove>[...]
Also: Bushcat Woes, Hummingbird 300 SL 4-Seat Heli Kit, Carbon Cub UL The newest Junkers is a faithful recreation that mates a 7-cylinder Verner radial engine to the airframe offer>[...]
Also: Seaplane Pilots Association, Rotax 916’s First Year, Gene Conrad After a decade and a half of struggling with the FAA and other aero-politics, G100UL is in production a>[...]
Also: Martha King Scholarship, Montaer Grows, Textron Updates Pistons, FlySto The FAA is hiring thousands of air traffic controllers, but the window to apply will only be open for >[...]