The number of air passengers carried in the US demonstrated steady growth from 2013 to 2019, with moderate year-on-year increases between 0.88% and 4.66%. The CAGR during this period averaged 2.43%. However, 2020 saw a massive drop of over 60% due to the COVID-19 pandemic, which significantly disrupted air travel. Recovery began in 2021 with a substantial year-on-year increase of 80.28%, followed by further robust growth in 2022 at 23.98%. As of 2023, air passenger numbers stood at approximately 950.88 million, a 15.13% increase from the previous year.
For the five years from 2023 to 2028, forecast data predict continued growth albeit at a slower pace, with a five-year CAGR projected at 0.95%. This translates to a total forecasted growth rate of 4.84% over the period.
Future trends to watch for include:
- Technological advancements in aircraft efficiency and sustainability.
- Potential shifts in consumer behavior due to climate change awareness.
- Regulatory changes affecting travel policies and airline operations.
