IATA (International Air Transport Association) has confirmed that India will displace UK and take its position as the 3rd largest aviation market in the world, by 2026. Currently being in the 9th position, India is expected to move up to 3rd in 20 years. Major changes are going to be made, in this list, where China is expected to displace US and become the largest aviation market by 2029.
India to become 3rd largest aviation market by 2026: IATA
Growth will also increasingly be driven within developing markets. Over the past decade the developing world’s share of total passenger traffic has risen from 24% to nearly 40%, and this trend is set to continue, it further said.
The aviation body also expects air passengers to double in 2035 to 7.2 billion from 3.8 billion air travelers in 2016.
The prediction is based on a 3.7% annual Compound Average Growth Rate (CAGR) noted in the release of the latest update to the association’s 20-Year Air Passenger Forecast, IATA said.
The aviation body also expects air passengers to double in 2035 to 7.2 billion from 3.8 billion air travelers in 2016.
• The Asia Pacific region will be the biggest driver of passenger growth, to have a source of more than half the new passengers.
• Indonesia is expected to displace Italy and come to the 10th position.
• In the past decade, gradual growth has been seen within the developing markets. The percentile of the passenger traffic has risen from 24% to nearly 40%.
• By 2035, passenger traffic of India alone will increase to 442 million.
• The current number of air passenger traffic in India is 3.8 billion. It is expected to almost double to 7.2 billion by 2035.
The growth of the market is extreme and is still growing. With people demanding to travel for convenience, export, explore and trade, this is of course expected to increase. Planning has to be done, as all the elements like baggage systems, security, Runways and terminals etc. will have to be doubled. The IATA agrees that this is impossible to accomplish without the help of the necessary government and the communities, who are required to work together to make this happen.
