Passenger Air Transport Global Market To Reach Value Of About $657 Billion In 2025
14 Apr, 2021
The passenger air transport services market consists of sales of passenger air transportation services and related goods by entities (organizations, sole traders and partnerships) that use aircraft, such as airplanes and helicopters to provide air transportation services for passengers. It includes services offered by both scheduled and nonscheduled air carriers.
Global Passenger Air Transport Market Size And Drivers:
The global passenger air transport market is expected to grow from $460.07 billion in 2020 to $524.82 billion in 2021 at a compound annual growth rate (CAGR) of 14.1%. The market is expected to reach $657.15 billion in 2025 at a CAGR of 6%.
The increase in global tourism is expected to fuel the growth of the passenger air transport market in the forecast period.
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Trends In The Global Passenger Air Transport Market
The use of analytics is rapidly growing in the aviation industry to capture critical insights from customers and operations data. It allows airlines to offer personalized services to its customers by using data analytics tools at every customer touch point. The growing use of analytics in the aviation industry is mainly a result of increasing competition between airlines. As a result, commercial airline is looking to enhance customer satisfaction levels by analyzing parameters such as ticket sales and passenger profile and purchase history.
Global Passenger Air Transport Market Segments:
The global passenger air transport market is further segmented based on type, class and geography.
By Type: Domestic Air Passengers, International Air Passengers.
By Class: Business Class, Economy Class.
By Geography: The global passenger air transport market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global passenger air transport market, accounting for 31% of the total market.
Read More On The Report For The Global Passenger Air Transport Market At:https://www.thebusinessresearchcompany.com/report/passenger-air-transport-global-market-report-2020-30-covid-19-impact-and-recovery
Passenger Air Transport Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides passenger air transport market overviews, analyzes and forecasts market size and growth for the global passenger air transport market, passenger air transport market share, passenger air transport market players, passenger air transport market segments and geographies, passenger air transport market’s leading competitors’ revenues, profiles and market shares. The passenger air transport market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.