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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