The European aerospace and defense conglomerate plans to have about 80 billion euros ($103.40 billion) in revenue by 2020, with 25 percent of the revenue expected to come from the high-value services.
Currently, services represent about 10 percent of the company's total revenues, which stood at 49 billion euros in 2011.
"We are well on track and, in fact, it's even possible to achieve the target ahead of schedule in China," Tiarks said.
Tiarks' confidence mainly comes from the fast-growing Airbus fleet in China. More than 100 Airbus planes are now delivered to China every year, which means that about 20 percent of the company's global production goes to China.
And that is thought to be just the beginning. As the world's fastest-growing commercial aviation market, China will need 5,260 new commercial aircraft, valued at $670 billion, over the next 20 years, Boeing said in its annual market outlook in September.
China is the world's second-largest market for domestic air traffic and the seventh largest for international passenger air traffic, according to the International Air Transport Association.
Flight hour services and spare parts logistics services are two packages well accepted by Chinese airlines, Tiarks said.
Flight hour services range from the supply of material and repairs to full maintenance. China Southern Airlines Co Ltd signed a contract with Airbus for customized flight hour services for its fleet of five A380s in April 2011. Airbus later signed similar agreements with Sichuan Airlines Co Ltd for its A330 fleet, and with Yangtze River Express Airlines Co Ltd for its A330 freighter fleet.
Airbus also started a door-to-door customized spare parts logistics service in China in 2008.
Using DHL as a forwarder for shipments, Airbus provides spare-parts deliveries and takes full control of the supply chain for customers.
Cumquat market in S China's Guangxi
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