Passenger Air Transportation Market Characteristics
The passenger air transportation services market consists of sales of passenger air transportation services by entities (organizations, sole traders and partnerships) that use aircraft, such as airplanes and helicopters to provide air transportation services of passengers and/or cargo. It includes services offered by both scheduled and nonscheduled air carriers, but scenic and sightseeing air transportation and air courier services are not included within the air transportation market.
Competitive Landscape of the Passenger Air Transportation Market
Major players in the global passenger airline industry include American Airlines, Delta Airlines, UnitedContinental, Deutsche Lufthansa, and Air France KLM.
Passenger Air Transportation Market Size
The passenger air transportation market size is expected to significantly grow at a CAGR of more than 2% during the forecast period. The growth in the passenger air transportation market is due to growing disposable income, and lower ticket prices.
However, the market for passenger air transportation is expected to face certain restraints from several factors such as high maintenance costs, and increasing oil prices.
Passenger Air Transportation Market Segmentation
The global passenger air transportation market is further segmented based on type and geography.
By Type - The passenger air transportation market is segmented into domestic and international.
By Geography - The global passenger air transportation market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America’s passenger air transportation market accounts for the largest share in the global passenger air transportation market.
Trends in the Passenger Air Transportation Market
Mobile technology and applications are becoming a latest trend in passenger air transportation industry. Passengers are using mobile-enabled applications to book their tickets and manage their journey. Passengers want personalized information about their flight, their baggage and how to find their gate directly on their mobile device. Alaska Airlines, American Airlines, Delta Air Lines, Frontier Airlines, and Hawaiian Airlines are providing these mobile apps to book a flight ticket.
Potential Opportunities in the Passenger Air Transportation Market
With increasing customer preference towards air transportation, particularly in the emerging economies such as India, China, Brazil, and Indonesia, the scope and potential for the global passenger air transportation market is expected to rise in the forecast period.