China’s aviation market is growing faster than expected and will overtake the United States as the world’s biggest by 2022, says the International Air Transport Association.
“The point at which China will displace the United States as the world’s largest aviation market (defined as traffic to, from and within the country) has moved two years closer since last year’s forecast,” IATA says.
“We now anticipate this will occur around 2022, through a combination of slightly faster Chinese growth and slightly reduced growth in the US.
“The UK will fall to fifth place, surpassed by India in 2025, and Indonesia in 2030. “Thailand and Turkey will enter the top ten largest markets, while France and Italy will fall in the rankings to 11th and 12th respectively.”
IATA predicts global passenger numbers will almost double to 7.8 billion by 2036 based on a 3.6% average Compound Annual Growth Rate (CAGR). It says 4 billion commercial aircraft passengers are expected this year.