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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Related Report:-
Air
Transportation Global Market Forecast To 2022
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Ankur Gupta, Head Marketing & Communications
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