Thursday, October 31, 2019

India to become third largest air passenger market by 2040: Report

India will become the third largest aviation passenger market by 2040 behind China, and US, according to 2019 World Traffic Forecasts released by the Airport Council International (ACI) World, a non-profit organization representing the world’s airports, on Wednesday.
China, expected to overtake the US as the largest passenger market in 2031, is likely to have 3.5 billion passengers and an 18 per cent share of the global passenger market by 2040. India is expected to overtake Japan by 2020 as the third largest market in the world.
US and India are projected to have 2.9 and 1.3 billion air passengers by 2040. Together, these three countries will handle almost 40 per cent of the global passenger traffic, the report said.
 Compiled from passenger traffic, cargo traffic, aircraft movement from 110 markets, the World Airport Traffic Forecasts report showed that passenger traffic worldwide is expected to double from 8.8 billion in 2018 to 17 billion passengers by 2037 and is expected to touch 19.7 billion at the rate of 3.7 per cent annual growth rate by 2040. According to the research, around 150 million people are currently living on land that will be below the high-tide line by mid-century.
31/10/19 Satish Nandagaonkar/Bangalore Mirror
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