{"id":32520,"date":"2018-10-29T15:11:11","date_gmt":"2018-10-29T09:41:11","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=32520"},"modified":"2018-11-17T14:21:51","modified_gmt":"2018-11-17T08:51:51","slug":"india-set-to-be-third-largest-aviation-market","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/india-set-to-be-third-largest-aviation-market\/","title":{"rendered":"India set to be third largest aviation market"},"content":{"rendered":"<p><a href=\"https:\/\/www.thehindu.com\/business\/Industry\/india-set-to-be-third-largest-aviation-market\/article25325717.ece\"><strong>India set to be third largest aviation market<\/strong><\/a><\/p>\n<p><strong>News:<\/strong><\/p>\n<ol>\n<li>In its latest 20-year forecast for the aviation industry, the International Air Transport Association (IATA) has revealed that India will be the third largest aviation market globally\u00a0 in 6 years.<\/li>\n<\/ol>\n<p><strong>Important Facts:<\/strong><\/p>\n<ol>\n<li>2. India is now expected to be among the top three countries by 2024 from its current seventh position, according to global aviation body IATA.<\/li>\n<\/ol>\n<p>3. India will take third place after the US, surpassing the UK around 2024 to become one of\u00a0 the largest aviation market globally.<\/p>\n<p><strong>4. Trends in aviation market revealed by IATA:<\/strong><\/p>\n<ul>\n<li>The air passenger numbers worldwide could double to 8.2 billion in 2037 by a5 per cent compound annual growth rate (CAGR).<\/li>\n<li>The biggest contribution in this growth will come from the <strong>Asia-Pacific region<\/strong>, which will account for half the total number of new passengers over the next 20 years.<\/li>\n<li>The <strong>Asia-Pacific region <\/strong>is expected to see the fastest growth at the rate of 4.8%, followed by Africa (4.6%) and west Asia (4.4%).<\/li>\n<li><strong>China<\/strong> will displace the United States as the world\u2019s largest aviation market (defined as traffic to, from and within the country) in the mid-2020s.<\/li>\n<li><strong>Indonesia<\/strong> is forecast to be the best performer rising from the world\u2019s tenth largest aviation market in 2017 to the fourth largest by 2030.<\/li>\n<li><strong>Thailand<\/strong> is expected to enter the top 10 markets in 2030, replacing Italy which drops out of the ranking, it added.<\/li>\n<li>By 2037,<strong> India <\/strong>is expected to add 414 million passengers to its existing 572 million passengers, the report added.<\/li>\n<\/ul>\n<p>5. The growth in Asia-Pacific region is being driven by a combination of continued robust economic growth, improvements in household incomes and favorable population and demographic profiles.<\/p>\n<p>6. The association warned, however, that growth prospects for air transport and the economic benefits driven by aviation could be curtailed if<strong> protectionist measures<\/strong> are implemented by governments.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-30711\" src=\"https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2018\/10\/international-1.jpg?resize=630%2C288&#038;ssl=1\" alt=\"\" width=\"630\" height=\"288\" srcset=\"https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2018\/10\/international-1.jpg?w=630&amp;ssl=1 630w, https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2018\/10\/international-1.jpg?resize=150%2C69&amp;ssl=1 150w, https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2018\/10\/international-1.jpg?resize=300%2C137&amp;ssl=1 300w\" sizes=\"auto, (max-width: 630px) 100vw, 630px\" \/><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>India set to be third largest aviation market News: In its latest 20-year forecast for the aviation industry, the International Air Transport Association (IATA) has revealed that India will be the third largest aviation market globally\u00a0 in 6 years. Important Facts: 2. India is now expected to be among the top three countries by 2024&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/india-set-to-be-third-largest-aviation-market\/\">Continue reading <span class=\"screen-reader-text\">India set to be third largest aviation market<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[555],"tags":[412,221,217,299,824],"class_list":["post-32520","post","type-post","status-publish","format-standard","hentry","category-test-1","tag-civil-aviation","tag-economy","tag-gs-3","tag-infrastructure","tag-international-air-transport-association","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704916231},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/32520","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=32520"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/32520\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=32520"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=32520"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=32520"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}