China May Become the Biggest Aviation Market in 5 Years
Zhang Xia
DATE:  Oct 27 2017
/ SOURCE:  Yicai
China May Become the Biggest Aviation Market in 5 Years China May Become the Biggest Aviation Market in 5 Years

(Yicai Global) Oct. 27 -- China will surpass the US to become the biggest aviation market in the world around 2022, China Air Transport Association (CATA) has predicted.

By 2036, global aviation passenger transport volume will reach 7.8 billion person-times, almost double this year's figure (4 billion person-times), and the Asia-Pacific region will become the biggest growth driver in aviation demand, CATA forecast yesterday. The future focus of aviation industry growth will shift eastwards to developing markets, Beijing Business Today reported today.

A rapid rise in China's passenger transport demand and its relatively slower growth in the US are propelling the Chinese aviation market to surpass the US market (by volume of passenger transport to, from, and within China) around 2022, CATA noted. India will overtake the UK by 2025, as will Indonesia by 2030, dropping it to fifth spot. Thailand and Turkey will make the top 10 market list, while France and Italy will drop to the 11th and 12th slots, respectively.

Many risks can impact the continued rapid growth of the global aviation industry: trade protectionism, travel bans and restrictions, and the demand for infrastructure modernization, CATA stressed.

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Keywords:   China Air Transport Association,Aviation Market