The passenger air transportation services market comprise of air transportation services offered by different entities and establishments using aircraft, such as airplanes and helicopters providing the air transportation services to passengers and transportation of cargo services. It further include services offered by both scheduled and non-scheduled air carriers, but tourism and sightseeing air transportation and air courier services are not studies and included in the air transportation market. The global prosperity depends on air connectivity, moreover the air transportation is sensitive to policies supporting the underlining growth. However, dampening the demand of air connectivity may risks the high quality and economic activity depending on the worldwide mobility. The air transportation industry is expected to grow post clearing the infrastructure bottlenecks impacting the growth to their home markets. The growth is well supported by different governments considering the need of the globalization that has made world more socially and economically prosperous to the investments.
According to the report, “Passenger Air Transportation Global Market Report 2019” Some of the key players operating the market include American Airlines Group, Delta Air Lines, United Continental Holdings, Lufthansa Group, FedEx. Some of the additional companies providing air transport include Alaska Airlines, Frontier Airlines, and Hawaiian Airlines are providing and enabled the apps to ebook a flight ticket.
Due to stable economic boom outlook in many evolved and developing economies and increasing public and private investments to increase airports in untapped regions, the scope and ability for the global air transportation market is anticipated to significantly upward thrust in the forecast period. Mobile ticketing and applications have now become a state-of-the-art trend in passenger air transportation industry. The passengers are now using mobile enabled e-ticketing to book their tickets and planning their journey. Passengers plan as per the personalized facts and ease in locating flight, luggage and the way to locate their gate.
Based on type, passenger air transportation market is segmented into air transportation market is segmented into passenger air transportation, chartered air transportation, air cargo services, domestic, international, passenger-chartered air transportation, freight-chartered air transportation, and others. Among the type segments, the passenger held the largest share in the air transportation market. The market further comprise of air transport service providers providing the passenger and cargo. The industry services are widely used by individuals and business operating in the international, domestic, operations around the world. The industry is further fragmented into terms of suppliers and buyers.
Based on the geography the passenger air transportation global market is segmented as Eastern Europe, Western Europe, North America, South America, Asia-Pacific, Middle East and Africa. Among the regions the Asia Pacific region accounts for the largest share in the air transportation global market followed by North America accounted for one third of the global market. The African region held the smallest share in the passenger air transportation market over the forecast period. The increasing demand from the emerging economies, continuous demand for the new low-cost carriers and deregulation, coupled with ever rising middle class are some of the key factors driving market growth over the forecast period.
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Ankur Gupta, Head Marketing & Communications