If you think the airports are crowded now, just wait. Currently, the U.S. is the largest single aviation market with 692.2 million domestic passengers traveling in 2016. However, that number is expected to soar above 1 billion passengers by 2035, according to the Airline Industry Forecast released by the International Transport Association (IATA). And, the U.S. isn’t the only nation experiencing significant growth. China is expected to outpace the U.S. by 2024, adding an estimated 817 million passengers totaling 1.3 billion passengers by 2035 and making it the world’s largest aviation market. Additionally, over the past decade, the developing world’s share of total passenger traffic has risen from 24% to 40%, and demand for air travel is expected to double over the next two decades.
IATA expects 7.2 billion passengers to travel in 2035, which is nearly double the current total of 3.8 billion passengers carried in 2016. That’s a lot of people passing through airports across the globe. IATA’s forecast revealed that passenger demand has increased by an average of 5.4% each year since 2013. By contrast, global passenger growth has increased by only 4.3% between 2008 and 2012.
This rise in air traffic is based on the 3.7% annual growth rate, and regions with the strongest international passenger growth include: Africa 5.1%, Middle East 4.8%, Asia-Pacific 4.7% and Latin America 3.8%. With passenger growth increasing around the world, governments are recognizing the value of connectivity provided by aviation to drive global trade and development.
For a closer look at the forecast, Slack Davis Sanger has created an infographic highlighting key trends: