AVIATION MARKET - GROWTH, TRENDS, COVID-19 IMPACT, AND FORECASTS (2023 - 2028)

 Analysis of the aviation market

During the projected period, the aviation industry is anticipated to grow at a rate of about 5%.

The COVID-19 pandemic had a wide-ranging impact on the aviation business, and those effects are anticipated to last throughout the forecast period. Passenger traffic in the commercial sector drastically decreased in 2020 and 2021. However, around 2022, the aviation sector began to recover and is now steadily returning to its pre-COVID-19 level. The worldwide air passenger traffic has increased in 2022 compared to 2021, according to the most recent data from IATA, ICAO, Airports Council worldwide (ACI), the UN World Tourism Organisation (UNWTO), the World Trade Organisation (WTO), and the International Monetary Fund (IMF). 

The international air passenger traffic in June 2022 increased by 229.5% compared to June 2021, and the revenue passenger kilometers (RPK) in June 2022 reached 65% of that of June 2019.

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