Passenger Air Transport Market Growth Outlook Through 2024-2033

Overview and Scope
Passenger air transport service refers to a mode of transportation for people that uses aircraft, such as planes and helicopters, to provide air transportation services for passengers, including scheduled and non-scheduled air carriers, to facilitate fast travel with improved security and to be used in emergency operations.

Sizing and Forecast
The passenger air transport market size has grown strongly in recent years. It will grow from $862.29 billion in 2023 to $919.43 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historic period can be attributed to the increased demand for air travel, the increased demand for customized tours for groups of travelers and the growing number of airport expansion projects..

The passenger air transport market size is expected to see strong growth in the next few years. It will grow to $1173.37 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to government support, the increase in global tourism, the rising urbanization and the rising use of analytics in the aviation industry will drive the market growth.. Major trends in the forecast period include use of artificial intelligence, focus on cloud-based technology, technology advancement, use of biometric technology, product innovations and collaborations and acquisitions..

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Segmentation & Regional Insights
The passenger air transport market covered in this report is segmented –

1) By Type: Domestic Air Passengers, International Air Passengers
2) By Class: Business Class, Economy Class, First Class
3) By End-Use: Private, Commercial

Asia-Pacific was the largest region in the passenger air services transport market in 2023. North America was the second largest region in the passenger air transport services market. The regions covered in the passenger air transport market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth
The increase in global tourism is expected to fuel the growth of the passenger air transport market in the forecast period. Global tourism is probably the largest movement of goods, services, and people, and it is a major force for economic growth and socio-political transition. According to the United Nations World Tourism Organization (UNWTO), 1.5 billion international tourist arrivals were recorded in 2019, globally. A 4% increase on the previous year is also forecast for 2020 and is expected to cross US$ 23 million by 2023. Therefore, the increase in global tourism drives the growth of the passenger air transport market.

Key Industry Players

Major companies operating in the passenger air transport market report are American Airlines Group Inc., Delta Air Lines, Inc., United Airlines Holdings, Inc., Lufthansa Group, Air France–KLM, WestJet, TAL Aviation Group, Egyptair, LATAM Airlines, Air Transat, Sunwing, Allegiant Air, easyJet, Controladora Vuela Compania de Aviacion SAB de CV, South African Airways, China Airlines, The Emirates Group, Red Sea Airlines, Avianca Group International Limited, Emirates Airline, Ryanair DAC, Kenya Airways, United Nigeria Airlines Company Limited, Turkish Airlines, Qatar Airways Company Q.C.S.C., Japan Airlines Co Ltd., ABC Aerolineas SA de CV, El Al Israel Airlines Ltd., Air Canada, Linea Aerea Amaszonas, AirAsia, TAROM SA, Austrian Airlines AG, Jazz, Aerolineas Argentinas, Ikar Airlines LLC, Norwegian Air Shuttle ASA, Boliviana de Aviacion, Azul Linhas Aereas Brasileiras S/A, British Airways Ltd., Grupo Aeromexico SAB de CV, Oman Air, Riyadh Air, FB Lineas Aereas SA, Hawaiian Airlines, Southwest Airlines Company, Gol Linhas Aereas Inteligentes SA, Saudia, Red Wings Airlines, Etihad Airways, Singapore Airlines Ltd., Flydubai, Swiss International Air Lines AG, LOT Polish Airlines, Ethiopian Airlines, RwandAir Limited

The passenger air transport market report table of contents includes:

1. Executive Summary
2. Passenger Air Transport Market Characteristics
3. Passenger Air Transport Product/Service Analysis -Product/Service Examples
4. Passenger Air Transport Market Trends And Strategies
5. Passenger Air Transport Market – Macro Economic Scenario
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31. Belgium Passenger Air Transport Market
32. Denmark Passenger Air Transport Market
33. Finland Passenger Air Transport Market
34. Ireland Passenger Air Transport Market
35. Netherlands Passenger Air Transport Market
36.Appendix

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