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IATA: China to become largest global aviation market in mid-2020s

10/25/2018| 11:27:28 AM|

The Asia-Pacific region will drive the biggest growth with more than half the total number of new passengers over the next 20 years coming from these markets.

The International Air Transport Association (IATA) said Wednesday its 20-Year Air Passenger Forecast shows that China will displace the United States as the world's largest aviation market in the mid-2020s.

The IATA report revealed that present trends in air transport suggest global passenger numbers could double to 8.2 billion in 2037.

Over the next two decades, the forecast anticipates a 3.5 percent compound annual growth rate (CAGR), leading to a doubling in passenger numbers from today's levels.

The Asia-Pacific region will drive the biggest growth with more than half the total number of new passengers over the next 20 years coming from these markets.

By 2020, India will take 3rd place after the United States, surpassing Britain around 2024.

Indonesia is forecast to be a standout performer, said IATA, climbing from the world's tenth largest aviation market in 2017 to the 4th largest by 2030.

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TAGS: IATA | aviation market | Asia Pacific
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