With an estimated 9.4 billion people expected to travel by 2024, the Airports Council International (ACI) predicts that the aircraft industry did 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 extraordinary 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 business to regain profitability. With an approximated 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.
The National Association of State Aviation Officials ( NASAO ), the Alliance for Aviation Across America ( AAAA ), and the American Association for State and Highway Transportation ( AASHTO ) published an economic study in 2024. The study found that the aircraft industry makes a sizable contribution to the US market, employing over 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, over 2, 200 charter companies, and 643 aircraft training operations are all present.
Airports Council International (ACI) is a group of aircraft government whose goal is to harmonize market 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, operating protection, 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 trade association of the major airlines in the world, 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 price discussions that served as forums for price negotiation. Full Recovery of the US Aviation Industry Is Expected in 2024 by SOURCE: eTurboNews |ETN
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