Published on : Wednesday, October 25, 2017
The aviation industry of China is expected to grow much faster than was ever estimated and is soon ready to surpass the United States as the greatest aviation market across the globe by 2022 according to the International Air Transport Association (IATA).
IATA states that the point at which China would be displacing the United States as the world’s biggest aviation market (known as traffic to, from and within the nation) has actually shifted two year closer since the forecast of the year 2016.
The organization has stated that this would be occurring around the year 2022 via a combination of slightly faster Chinese growth and slightly minimized growth in the US.
It has gone on to add that the UK would be falling to the fifth place and would be surpassed by India in 2025 and Indonesia in the year 2030.
It feels that the countries like Thailand and Turkey would then enter the leading ten markets while, on the other hand France and Italy would be descending in the rankings to 11 and 12th spot respectively.
IATA predicts that the global passenger numbers would almost double to 7.8 billion by 2036 based on a 3.6% average Compound Annual Growth rate (CAGR).
It has mentioned that as much as 4 billion commercial aircraft passengers are expected this year.