27.11.15

Indian aviation to be 3rd largest in world

In a decade, India will be the third largest air travel market in the world.The country , currently among the five fastest-growing markets in the world with 275 million new passengers every year, will replace the UK to become the third largest market in 2026.
The IATA report projected that global passenger numbers are expected to reach 7 billion by 2034. That is more than double the 3.3 billion who flew in 2014 and exactly twice as many as the 3.5 billion expected in 2015. The five fastest-increasing markets in terms of additional passengers per year over the 20-year forecast period will be China (758 million new passengers added to a total of 1.196 billion), the US (523 million new passengers added to a total of 1.156 billion), India (275 million new passengers added to a total of 378 million), Indonesia (132 million new passengers for a to tal of 219 million) and Brazil (104 million new passengers for a total of 202 million). Routes to, from and within Asia-Pacific will see an extra 1.8 billion annual passengers by 2034, for an overall market size of 2.9 billion, said the forecast by IATA, which represents some 260 airlines comprising 83% of global air traffic. China and India are growing fast with annual growth this year-to-date of 12.5% and 16.5% respectively.

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