China Set to Become the World’s Largest Aviation Market by 2042
In a bold prediction, Airbus has forecasted that by 2042, China will ascend to become the world’s largest aviation services market. This meteoric rise is not just in terms of market value, which is expected to reach an astounding $54.1 billion, but also in the sheer scale of operations. China’s in-service commercial aircraft fleet is projected to grow to a staggering 10,930 aircraft by 2042.
This expansion isn’t just about the number of aircraft; it’s a human story too. China’s aviation sector is set to witness an extraordinary increase in job opportunities. From 212,000 jobs in 2023, the demand for pilots, technicians, and cabin crew members is anticipated to more than double, reaching 561,000 by 2042. This surge reflects not only the growth of the aviation sector but also the burgeoning need for skilled professionals to sustain it.
China’s civil aviation industry is making strides in becoming more efficient and improving in quality. This progress is part of China’s broader “dual carbon” goals, which aim to make the industry more sustainable. The focus is on three main areas: maintenance, training and operations, and enhancing passenger experience. These developments indicate a future where aviation is not only larger in scale but also more advanced and passenger-centric.
The implications of this growth are global. China is set to overtake the traditionally dominant markets of Europe and North America. This shift signifies a new era in aviation, where Asia, led by China, emerges as the epicenter of the aviation services market.
To support this massive growth, China will need a cumulative workforce of approximately 561,000 in the aviation industry, including 186,000 technicians, 139,000 pilots, and 236,000 cabin crew members over the next two decades. This need underlines the importance of investment in training and education to prepare the next generation of aviation professionals.
In addition to the workforce and fleet expansion, there’s also a focus on the circular economy. Approximately 2,320 aircraft are expected to retire by 2042 in China, paving the way for opportunities to reuse, repair, and recycle older aircraft.
This forecast by Airbus outlines a future where China not only dominates the aviation market in numbers but also leads in innovation and sustainability. It’s a future that promises exciting opportunities and challenges, requiring concerted efforts in training, technology, and environmental stewardship.
Sources: AirGuide Business airguide.info, bing.com, ChinaTravelNews, Xinhua, ChinaDaily, Aviation Week Network