According to an Airbus report, China is expected to overtake North America and Europe to become the world’s largest market for aviation services by 2043. The market value is expected to triple from $23 billion in 2024 to $61 billion in 2043. China’s civil aviation market has shown rapid growth this year, with a record number of passengers transported and daily average passenger volume exceeding 2 million. The growth is driven by higher demand and spending on travel, and the development of international hub airports, which makes it easier for passengers to connect with domestic traffic.
Airbus forecasts that China’s fleet size will continue to show strong growth potential over the next two decades, with the country expected to have 11,160 aircraft in service by 2043. The demand for services is also expected to grow at a compound annual growth rate of 5.1%, driven by maintenance, training and operations, and fleet enhancement solutions. The maintenance sector is expected to grow from $19 billion to $51 billion in 2043, and the training and operations market will require an additional 478,000 skilled workers by 2043.