Passenger and freight traffic in China's civil aviation sector demonstrated robust growth from 2013 to 2019, with annual changes averaging between 10% to 14%. The pandemic drastically impacted traffic in 2020 with a significant -38.26% drop. Recovery began in 2021, accelerating to a 50.24% increase by 2022. In 2023, traffic stood at 1490 hundred million tonne kilometers, showing a 16.06% annual rise. The five-year compound annual growth rate (CAGR) leading up to 2023 was 4.37%.
Looking ahead, the forecast from 2024 projects a steady rise, with traffic anticipated to reach 1990 hundred million tonne kilometers by 2028. The five-year CAGR is expected to average 4.51%, indicating continued growth. Key future trends to watch for include advancements in aviation technology, policy adjustments to enhance capacity and efficiency, and the impacts of global economic conditions on passenger and freight demand.
