With the release of its Market Outlook (BMO) on Tuesday, Boeing outlined not only its projections for aircraft deliveries and personnel needs for the next 20 years, it also weighed in on an area of growth across the board in aviation, the services and support tied to each market segment.
Boeing Projects Significant Growth in Global Services
Key Takeaways:
- Boeing's latest Market Outlook predicts a $9 trillion aerospace industry over the next decade, with the services and support market alone valued at $3.2 trillion, reflecting a strong recovery driven by passenger confidence, affordability, and health.
- The airline industry has shown significant resilience, with domestic travel recovering rapidly and most segments expected to reach pre-pandemic levels by 2023-2024, further supported by a focus on sustainability and fleet modernization.
- A "training bubble" created by pilots returning to the workforce is driving high demand for flight simulation. Boeing is actively exploring and integrating advanced technologies like augmented and virtual reality to address training constraints and offer flexible, off-campus solutions.
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