The air transport services market entails of sales of air transportation services by numerous entities (organizations, sole traders and partnerships) that utilize the aircraft, such as airplanes and helicopters to deliver the air transportation services of passengers and/or cargo. It comprises services suggested by both scheduled and non-scheduled air carriers, but scenic and sightseeing air transportation and air courier services are not comprised within the air transport market.
According to the report analysis, ‘Air Transport Global Market Report 2020-30: Covid 19 Impact and Recovery’ states that American Airlines Group; Delta Air Lines; United Continental Holdings; Lufthansa Group; FedEx and many others are the foremost companies in operating in air transport global market during the near future more proficiently for leading the highest market growth and registering the great value of market share while analysing the strategies and policies of government as well as corporates, implementing the policies of the enlargements and profit making, employing the young work force, decreasing the associated prices, establishing the several research and development programs, delivering the better consumer satisfaction, spreading the awareness connected to the applications and characteristics of such, and advancing the applications and specifications of such.
In addition, there is an increment in focus on novelty and convenience in the aviation industry. Some of the services being accessible by airlines to improve the customer service experience comprise the priority pass membership delivering the access to VIP airport lounges around the globe, concierge services, and priority check-in and boarding at airports. Similarly, the automated check-in technologies are being proposed by worldwide airlines. For instance, the American Airlines offers self-service check-in service across the US and nominated international airports. Similarly, Chicago-based United Airlines proposes the online baggage check-in service.
However, the international air transport market is probable to decline from 2019 in 2020 at a compound annual growth rate (CAGR). The decline is majorly due to economic slowdown across provinces owing to the COVID-19 outbreak and the measures to encompasses it. The market is then probable to recover and augment at a CAGR from 2021 to 2023. Asia Pacific was the largest economy in the international air transport market, which accounting the market during 2019. North America was the second largest region of the global air transport market, which dominating the market. Africa was the smallest region in the international air transport market.
Furthermore, the effective growth in aim on novelty and convenience in the aviation industry and implementation of automation techniques are the foremost trends witnessed in the worldwide air transportation industry. Owing to the stable economic growth outlook in several developed and developing regions and massive increment in public and private investments to improve the airports in untapped regions, the scope and possible for the worldwide air transportation market is probable to significantly augment in the forecast period. Therefore, in the near years, it is anticipated that the market of air transport services will increase around the globe more proficiently over the forthcoming duration.
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Ankur Gupta, Head Marketing & Communications