The global air transportation market, a part of the transportation service industry, grew at a compound annual growth rate (CAGR) of around 3% during the historic period. The transportation service industry showed a steady growth. This market has registered steady growth rate in the historic period due to decline in oil prices allowing for cheaper air fares, strong economic conditions prevailing in emerging countries such China and India, rising disposable income and stable economic growth in developed countries in the historic period
In the forecast period, the global air transportation market size is expected to be over $700 billion by 2021, growing at a CAGR of nearly 4.5%. This is expected due to stable economic growth outlook in many developed and developing economies and increasing public and private investments to develop airports in untapped regions industry is likely to boost the market during the forecast period. Furthermore, rising population, increase in dispensable income, and increasing per capita incomes are expected to drive the global air transportation market in the future.
Find TBRC’s report on the air transportation market: https://www.thebusinessresearchcompany.com/report/air-transportation-global-market-report-2018
Global airlines are focusing on alternate streams of revenue to increase revenues and profit margins. This is mainly due to increasing competition in the air transportation industry as airlines are cutting ticket prices owing to decline in aircraft turbine fuel costs, thus having a negative impact on profit margins.
Major companies in the air transportation market, offering new technology include American Airlines Group, Delta Air Lines, United Continental Holdings, Lufthansa Group, FedEx, Air France – KLM, International Airlines Group, Emirates Group, Southwest Airlines, and China Southern Airlines. Download a sample report: https://www.thebusinessresearchcompany.com/sample.aspx?id=7&type=smp
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