The global airline industry market is estimated to grow at an optimistic assessment of 25.5 per cent from 2022 to 2027. This projected estimation by the aviation industry stalwarts is due to various reasons such as the rising disposable income of travellers, a rapidly growing middle class who are able to afford holidays by air, low-cost carriers and increased travel demand. One of the biggest reasons for a positive forecast is a hopeful belief that the jet fuel process will remain comparatively stable over this period and will allow the airlines to levy surcharges and earn additional revenue from passenger and freight transport.
The market for the commercial airline division is subdivided into two major categories; passenger aircraft and freight aircraft. The passenger airline division is further divided into domestic and international. The domestic segment is expected to be the fastest-growing segment in the market from 2022 to 2027. The pandemic wreaked havoc and due to a global shutdown, this industry suffered losses of gigantic proportions; however, since most countries have opened up their borders to world travellers, the domestic and international airline markets are seeing a heartening upswing in their sales and profit and loss statements. Low plane fares, rising standards of living, addition, and development of the fleet, increased demand for fuel-efficient aircraft, state-of-the-art aviation technology, and a rise in the number of air travellers are driving this trend.
From 2022 to 2027 the freight aircraft segment is expected to be the fastest-growing segment and will ensure the prompt shipment and freight deliveries compared to other alternative options. Furthermore, additional factors like cool-chain technology, using robots, advanced top-of-the-line automated systems, artificial intelligence, and much more, are likely to propel this segment forward into making profits in the forecast period.
This story is from the December 2022 edition of Business Traveller India.
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This story is from the December 2022 edition of Business Traveller India.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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