Global Passenger Air Transport Market 2024 Technology Scouting, Industry Insights, Business Outlook And Key Players Analysis Till 2033

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company offers in-depth market insights through Passenger Air Transport Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
The passenger air transport market size has grown strongly in recent years. It will grow from $862.29 billion in 2023 to $919.43 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historic period can be attributed to the increased demand for air travel, the increased demand for customized tours for groups of travelers and the growing number of airport expansion projects..

The passenger air transport market size is expected to see strong growth in the next few years. It will grow to $1173.37 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to government support, the increase in global tourism, the rising urbanization and the rising use of analytics in the aviation industry will drive the market growth.. Major trends in the forecast period include use of artificial intelligence, focus on cloud-based technology, technology advancement, use of biometric technology, product innovations and collaborations and acquisitions..

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Market Segmentation:
The passenger air transport market covered in this report is segmented -
1) By Type: Domestic Air Passengers, International Air Passengers
2) By Class: Business Class, Economy Class, First Class
3) By End-Use: Private, Commercial

Major Driver - Global Tourism To Fuel Passenger Air Transport Market Growth
The increase in global tourism is expected to fuel the growth of the passenger air transport market in the forecast period. Global tourism is probably the largest movement of goods, services, and people, and it is a major force for economic growth and socio-political transition. According to the United Nations World Tourism Organization (UNWTO), 1.5 billion international tourist arrivals were recorded in 2019, globally. A 4% increase on the previous year is also forecast for 2020 and is expected to cross US$ 23 million by 2023. Therefore, the increase in global tourism drives the growth of the passenger air transport market.

Competitive Landscape:
Major companies operating in the passenger air transport market report are American Airlines Group Inc., Delta Air Lines, Inc., United Airlines Holdings, Inc., Lufthansa Group, Air France-KLM, WestJet, TAL Aviation Group, Egyptair, LATAM Airlines, Air Transat, Sunwing, Allegiant Air, easyJet, Controladora Vuela Compania de Aviacion SAB de CV, South African Airways, China Airlines, The Emirates Group, Red Sea Airlines, Avianca Group International Limited, Emirates Airline, Ryanair DAC, Kenya Airways, United Nigeria Airlines Company Limited, Turkish Airlines, Qatar Airways Company Q.C.S.C., Japan Airlines Co Ltd, ABC Aerolineas SA de CV, El Al Israel Airlines Ltd, Air Canada, Linea Aerea Amaszonas, AirAsia, TAROM SA, Austrian Airlines AG, Jazz, Aerolineas Argentinas, Ikar Airlines LLC, Norwegian Air Shuttle ASA, Boliviana de Aviacion, Azul Linhas Aereas Brasileiras S/A, British Airways Ltd, Grupo Aeromexico SAB de CV, Oman Air, Riyadh Air, FB Lineas Aereas SA, Hawaiian Airlines, Southwest Airlines Company, Gol Linhas Aereas Inteligentes SA, Saudia, Red Wings Airlines, Etihad Airways, Singapore Airlines Ltd., Flydubai, Swiss International Air Lines AG, LOT Polish Airlines, Ethiopian Airlines, RwandAir Limited

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Top Trend - Passenger Air Transport Market Sees Growing Focus On New Airlines
Major companies operating in the passenger air transport market are increasing their focus on introducing passenger airlines to gain a competitive edge in the market. A passenger airline is a company or organization that provides air transportation services for individuals, allowing passengers to travel by air from one location to another. For instance, in April 2022, KF Cargo, a Canada-based air charter company, introduced Aeroflyer, its own passenger airline. Aeroflyer focuses on serving the leisure, tourism, and workforce transportation markets, delivering charter travel services for both domestic and international routes. The airline employs a fleet of B737NG aircraft, initially utilizing two B737-600s for charter flights within the country and overseas.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Passenger Air Transport Market Characteristics
3. Passenger Air Transport Market Trends And Strategies
4. Passenger Air Transport Market - Macro Economic Scenario
5. Passenger Air Transport Market Size And Growth
…..
27. Passenger Air Transport Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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