The analysis of the US airline passenger market reveals a steady upward trend in passenger volume, increasing from 744.82 million in 2013 to 846.77 million in 2023. The increase from 2022 to 2023 stood at 0.77%, with the average annual growth (CAGR) over the last five years at 0.82%. From 2024 onwards, growth is forecasted to continue, reaching 877.39 million by 2028, with a forecasted 5-year CAGR of 0.56% and a total growth rate of 2.84% during this period.
Trends to watch for in the future include:
- Advancements in aviation technology enhancing fuel efficiency and reducing operational costs.
- Increased competition from low-cost carriers driving competitive pricing strategies.
- Potential impacts of environmental regulations on flight operations and passenger demand.
- Influence of global economic conditions on travel sentiment and passenger volumes.
