Passenger Air Transport Global Market Report 2022

Major companies in the passenger air transport services market include The Emirates Group, American Airlines Group Inc., Delta Air Lines Inc., United Airlines Inc., China Southern Airlines, Japan Airlines Co Ltd, Ryanair DAC, Air France–KLM, and Qatar Airways Company Q.C.S.C.

The global passenger air transport market is expected to grow from $524.18 billion in 2021 to $588.09 billion in 2022 at a compound annual growth rate (CAGR) of 12.2%. The market is expected to grow to $1,141.5 billion in 2026 at a compound annual growth rate (CAGR) of 18%.

The passenger air transport services market consists of sales of passenger air transportation services and related goods by entities (organizations, sole traders, and partnerships) that use aircraft, such as airplanes and helicopters to provide air transportation services for passengers. It includes services offered by both scheduled and nonscheduled air carriers.

The main types in the passenger air transport services market are domestic air passengers and international air passengers.The domestic air passenger services are provided for domestic passengers through air transport.

The market is segmented by class into business class and economy class and by end-use into private and commercial.

Asia Pacific was the largest region in the passenger air services transport market in 2021.North America was the second largest region in the passenger air transport services market.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The increase in global tourism is expected to fuel the growth of the passenger air transport market in the forecast period.Global tourism is probably the largest movement of goods, services, and people and it is a major force for economic growth and socio-political transition.

According to the United Nations World Tourism Organization (UNWTO), 1.5 billion international tourist arrivals were recorded in 2019, globally. A 4% increase on the previous year which is also forecast for 2020 and is expected to cross US$ 23 million by 2023. Therefore, the increase in global tourism drives the growth of the passenger air transport market.

The use of analytics is rapidly growing in the aviation industry to capture critical insights from customers and operations data.It allows airlines to offer personalized services to their customers by using data analytics tools at every customer touchpoint.

The growing use of analytics in the aviation industry is mainly a result of increasing competition between airlines.As a result, the commercial airline is looking to enhance customer satisfaction levels by analyzing parameters such as ticket sales passenger profile and purchase history.

For instance, Chicago-based United Airlines analyses 150 variables in a customer profile to offer a more personalized offer. Major companies using analytics in the aviation industry are Southwest Airlines, Delta Airlines, and United Airlines.

The countries covered in the passenger air transport services market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam.