Key Market Indicators
Revenue for Russian airlines is projected to hit $8.3 billion by 2028, up from $7.5 billion in 2023. This marks an average annual growth rate of 1.9%. The Russian market has seen a steady increase of 1.1% year on year since 2014. In 2023, Russia ranked fourth in the global market, with Ireland surpassing it at $7.5 billion. Germany, Ireland, and Russia held the second, third, and fourth spots, respectively. Russian air passenger traffic is expected to reach approximately 153.7 million by 2028, up from 120.6 million in 2023. This translates to an annual compound growth rate of 3.8%. Since 1996, demand in Russia has surged by 4% annually. In the 2023 rankings, Russia came in seventh place, with Japan overtaking it at 120.6 million passengers. China, India, and Ireland secured the second, third, and fourth positions, respectively.