The passenger traffic on domestic routes in China has shown strong growth over the years, reaching a volume of 671.9 million persons in 2023. This reflects a significant increase, especially considering the downturn in 2020 due to the pandemic. Since then, the market has rebounded robustly, with a year-on-year growth of 13.67% from 2022 to 2023. Over the last five years, the Compound Annual Growth Rate (CAGR) has averaged 4.16%, indicating steady recovery and growth across the domestic aviation sector.
Looking forward, the forecasted data suggests continued growth, with the passenger volume expected to reach 879.1 million by 2028. The forecasted 5-year CAGR is 4.24%, accompanied by an overall five-year growth rate of 23.1%. These projections imply a sustained and healthy growth trajectory for the domestic aviation market in China.
Future Trends to Watch For:
- Potential impacts of economic fluctuations on passenger demand
- The role of technology and digital innovation in enhancing passenger experience
- Environmental policies and their influence on aviation practices
- Competition from high-speed rail networks and other modes of transport
