The Business Research Company’s Passenger Air Transport Global Market Report 2021 – COVID-19 Impact And Recovery
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According to the new market research report ‘Passenger Air Transport Global Market Report 2021: COVID-19 Impact And Recovery’ published by The Business Research Company, the passenger air transport market is expected to grow from $460.07 billion in 2020 to $524.82 billion in 2021 at a compound annual growth rate (CAGR) of 14.1%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $657.15 billion in 2025 at a CAGR of 6%. The increase in global tourism is expected to fuel the growth of the passenger air transport market in the forecast period.
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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.
Trends In The Global 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 its customers by using data analytics tools at every customer touch point. The growing use of analytics in the aviation industry is mainly a result of increasing competition between airlines. As a result, commercial airline is looking to enhance customer satisfaction levels by analysing parameters such as ticket sales and 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, United Airlines.
Global Passenger Air Transport Market Segments:
The global passenger air transport market is further segmented:
By Type: Domestic Air Passengers, International Air Passengers
By Class: Business Class, Economy Class
By Geography: The global air transport market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the Asia-Pacific passenger air transport market accounts for the largest share in the global passenger air transport market.
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Passenger Air Transport Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides passenger air transport global market overviews, analyzes and forecasts market size and growth for the global passenger air transport market, passenger air transport market share, passenger air transport global market players, passenger air transport market segments and geographies, passenger air transport global market’s leading competitors’ revenues, profiles and market shares. The passenger air transport global market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Read Passenger Air Transport Global Market Report 2021 from The Business Research Company for information on the following:
Data Segmentations: Market Size, Global, By Region And By Country; Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries
Passenger Air Transport Market Organizations Covered: American Airlines, Delta Airlines, United Continental, Deutsche Lufthansa, Air France KLM.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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