AIRBUS FORECASTS TRIPLE GROWTH OF NIGERIAN AVIATION BY 2042

AIRBUS FORECASTS TRIPLE GROWTH OF NIGERIAN AVIATION BY 2042
Photo Credit @Airbus

ABUJA – At the 7th Aviation Africa Summit and exhibition held at the Abuja International Convention Center, Airbus held a press conference to discuss Airbus’ market forecast in the Nigerian Market.

Nigeria is home to two (02) of the fastest growing cities in the world thus Abuja and Lagos. By the year 2042, the Airbus Global Market Forecast shows that the Nigerian Market will require nearly 160 passenger and freight aircrafts. The aircrafts forecasted include 131 single-aisle such as the A220, A320 families and 28 wide body aircrafts such as A330 and A350 families.

Nigeria is Africa’s most populous country with an estimated population of 216 million thus meaning great opportunities. Aviation plays a fundamental role in driving economic development across Africa working as an enabler and facilitator for growth and this will create jobs, facilitating domestic connectivity, intra-African, Global trade and regional integration. Nigeria is one of biggest producers of oil.

Airbus also predicts that the aviation sector growth on the continent will drive average yearly services demand up by 4.1%, from US$2 billion, to US$7 billion. Growing Maintenance Repair & Overhaul (MRO) services at both local and regional level are central to the sector’s growth, safety and longevity. The expansion of MRO capabilities in the country could serve to bring in additional revenues, reduce aircraft maintenance costs and provide even further opportunities for job creation and skills development in Nigeria and the continent at large.

As Nigeria and indeed Africa’s aerospace industry grows and becomes more dynamic, an increasing demand for specialised skills is creating thousands of new opportunities for young people on the continent. Already, an estimated 7.7 million direct and indirect jobs have been created by the industry in Africa. Airbus predicts that a further 17,000 technicians, 14,000 pilots and 23,000 cabin crew positions will be required across Africa in the next 20 years.