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 Market Outlook (BMO) projects a robust recovery in aerospace, with its Services Market Outlook (SMO) forecasting $3.2 trillion in services and support over the next 10 years.
- The industry recovery is driven by passenger confidence, affordability, and health, with domestic travel leading the rebound and a full return to pre-pandemic levels expected by 2023-2024.
- A significant demand for pilot training is emerging as personnel return to the workforce, though traditional full-flight simulator training faces constraints due to pandemic-related travel restrictions.
- To meet evolving training needs and address current limitations, Boeing is actively exploring and integrating advanced technologies like augmented and virtual reality for off-campus training solutions.
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