The next decade is set to be an exciting time for the Aviation industry. Flight has never been safer, with record numbers of planes taking off and landing every day. Aviation has never been more successful, with the industry contributing $704 billion to global GDP.
But how can the Aviation industry continue to grow, and enjoy new areas of success?
The number of airline passengers is predicted to rise over the next ten years and beyond. This is in part thanks to rising levels of financial independence and a higher average GDP around the world, meaning more people can afford to take flights. The world is becoming more connected, with the internet bringing us closer together, 24-hour news allowing us to see what is happening around the world and more efficient planes allowing us to travel from place to place.
Over the next decade China will overtake the US as the highest source of passengers, flying to, from and within the country, potentially rising to over 1 billion. Even if there is a downturn in productivity and restrictions in trade agreements, globally there should still be more than 6 billion passengers every year by the end of the next decade, significantly higher than today.
Passengers numbering in the billions will continue to use planes, and many millions of new fliers will experience it for the first time, eventually becoming loyal customers.
Job growth is also increasing Aviation industry growth. An increase of passengers will have knock-on effect of stimulating more jobs in the Aviation industry. There are already 65 million jobs supported by the industry, but even more will be needed to handle the volume of new flights.
The IATA conducted a survey into growth in the Aviation sector, and found that the majority of respondents predict growth in ground operations, cabin crew and customer service personnel jobs over the next two years, which will allow the industry to maintain its high standards. The 10 million jobs directly in the Aviation sector are around 4.4 times more productive than the average job around the world, and there will be millions more Aviation jobs created over the next decade.
New Aviation technology is emerging all the time, making flights faster, more efficient and a more enjoyable experience for customers. New supersonic planes are combining all three factors to create a new flight service exclusively for the higher end market. Several innovative airlines are planning on having their supersonic planes travel at Mach 2.2 (1,687 mph). Some question whether the benefits of this outweigh the potential dangers, while others claim it would be hugely helpful for business.
Disruptive elements might sound bad, but change can be positive, encouraging the Aviation industry to adopt new strategies or rise to meet new challenges. India’s Aviation market has exploded in recent years and is set to overtake the US if it stays on its predicted course of reaching one billion flights per year. Passenger levels rose 17% last year alone, giving the Aviation market a strong base to build from. However, Indian airlines are already feeling the pressure of handling so many customers, with a shortage of pilots and aircraft engineers. Indian airlines will need to invest heavily in infrastructure and hire new roles to handle the higher volume of air traffic.