With an estimated 9.4 billion people expected to travel by 2024, the Airports Council International (ACI) predicts that the aerospace industry will fully recover from the effects of COVID-19.
According to a report released earlier this year by the International Air Transport Association ( IATA ), the demand for air travel is expected to double by 2040, rising at an average annual rate of 3.4 %. This demonstrates amazing fortitude in a sector of the economy that was all but destroyed by the pandemic.
North America has so far demonstrated a strong treatment. The location is notable for its robust economic performance, according to IATA’s June 2023 record titled” Global Outlook for Air Transport.” In 2022, it was the first industry to turn prosperous once more. With an predicted net income of US$ 11.5 billion by the end of 2023, North America is expected to further improve its economic efficiency due to the high demand for air travel.
An economic analysis was published in 2024 by the American Association of State and Highway Transportation Officials ( AASHTO ), Alliance for Aviation Across America ( AAAA ), national association of state aviation officials ( NASAO ), and others. The study found that the aircraft industry makes a sizable financial contribution to the US market, employing more than 1.1 million people and having an annual economic impact of over$ 246 billion.
Over 4,800 people airports, 3,383 fixed-base operators, 4,144 maintenance facilities, 2,200 charter companies, and 643 trip training operations are all present.
An organization of airport officials called Airports Council International (ACI) aims to harmonize industry requirements for aircraft requirements. Its headquarters (AC I World ), which was founded in 1991, are located in Montreal, Quebec, Canada, and its members run almost 2000 airports.
Safety Enhancement ( APEX ) and Airport Service Quality Awards ( ASQ), which are based on ratings of passenger satisfaction, are two significant programs. Economics, functional security, coal accreditation, and passenger transportation are additional initiatives. The movement of passengers, cargo, luggage, and aircraft is coordinated by Next Experience in Travel and Technologies ( NEXTT ) using processing technology and interactive decision-making.
A global airline trade association called the International Air Transport Association ( IATA ) was established in 1945. IATA has been referred to as a cartel because, in addition to establishing technical requirements for airlines, it even hosted tax discussions that served as forums for price negotiation. SOURCE: Expected complete recovery of the US aviation industry in 2024: eTurboNews |iTN
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