Prepare yourself for some eye-opening statistics about the global airline industry! A staggering 25.5% CAGR growth is anticipated between 2022 and 2027, according to research, driven by growing middle classes, rising travel demand, and rising disposable incomes. However, that’s not it! We’ve got you some more statistics regarding jet fuel, airline crashes, and much more.

Global Aviation Market Overview

  1. In 2024, $30.5 billion in net profits are anticipated, with a 3.1% net profit margin. Compared to the projected $27.4 billion (3.0% margin) in 2023 and the $25.7 billion (2.7% margin) predicted by IATA in December 2023, this represents an improvement. IATA
  2. In 2024, a 5.7% return on invested capital is anticipated, which is roughly 3.4 percentage points less than the average cost of capital. In 2024, total revenues are expected to reach $996 billion, a 9.7% increase and a record high. IATA
  3. In 2024, total spending is predicted to reach $936 billion, a 9.4% increase. IATA
  4. Air cargo carries $8.3 trillion worth of trade to consumers, supporting the global economy. IATA
  5. It is projected that industry expenses will increase by 9.4% from 2023 to $936 billion in 2024. IATA
  6. The NBAA Compensation Survey (NBAA, 2023) indicates that there was an average 12% increase in pilot compensation from 2022 to 2023. Aero Crew
  7. The number of flights is expected to reach 10.6 million at the ECAC* level in 2024, representing a growth of 4.9% (±2.3pp) over 2023 and 96% of 2019 levels. It is anticipated that this trend will continue, with a rise to 10.9 million (99%) in 2025 and 11.2 million (101%) by 2026. Euro Control
  8. After 2025, the average annual growth in flights is predicted to be 2.0% (±1.4%), with over 12 million flights in Europe by 2030. Euro Control
  9. The yearly growth rate of the global aviation market is roughly 3.7%.  Gitnux
  10. Approximately 12% of CO2 emissions from all transportation sources are attributable to aircraft. Gitnux
  11. By 2026, the aviation sector worldwide is expected to generate $909 billion in revenue. Gitnux
  12. The number of flights grew in the ensuing years as well, with a new peak of 40.1 million expected in 2024. Statista
  13. The aviation market's revenue experienced growth from 2016 to 2026, with an impressive compound annual growth rate (CAGR) of million USD in 2020, million USD in 2026, and multi-million USD. Linked In
  14. Global passenger traffic is expected to grow at a compound annual growth rate (CAGR) of 4.3% from 2023 to 2042. The first three years will see a sharp recovery gradient, with a 9.1% CAGR from 2023 to 2026, before the growth rate returns to pre-COVID-19 levels with a 3.6% CAGR from 2023 to 2052. ACI
  15. Nearly 20 billion passengers are anticipated worldwide in 2042, more than doubling the 2024 forecast. ACI
  16. Global passenger traffic is predicted to approach 25 billion in 2052, which is roughly 2.5 times higher than the 2024 estimate. ACI

Global Passenger Traffic Analysis

  1. In 2024, industry revenues are predicted to hit a record $996 billion. IATA
  2. Passenger income is expected to rise from $646 billion in 2023 to $744 billion in 2024, a 15.2% increase. IATA
  3. It is anticipated that revenue passenger kilometers (RPKs) will increase by 11.6% annually. The long-term growth trend predicts that between 2023 and 2043, passenger demand will rise by 3.8% annually. IATA
  4. It is projected that passenger yields will increase by 3.2% by 2023. IATA
  5. When expressed in constant 2018 dollars, the real average return ticket is predicted to drop from $306 in 2019 to $252 in 2024. IATA
  6. Pre-pandemic levels of 82.6% in 2019 are anticipated to be matched by an average passenger load factor of 82.5% in 2024. IATA
  7. According to data from an IATA poll conducted in April 2024, 77% of participants thought flying was a good value for the money. IATA
  8. Over the next 12 months, 39% of respondents intend to travel more, 54% expect to travel the same amount, and 6% expect to travel less. IATA
  9. In the next 12 months, 46% of respondents expect to spend more on travel, 45% expect to spend the same, and 9% expect to spend less. IATA
  10. The aviation industry is still dedicated to reaching net zero carbon emissions by 2050; according to 82% of travelers, this is the appropriate objective, 76% think sustainable flying is feasible, and 78% concur that aviation leaders are seriously addressing the climate issue. IATA
  11. Six percent said that it's simple to justify business travel expenses. IATA
  12. 77% concurred that flying offers good value for the money. IATA
  13. Ninety percent agreed that air travel is essential to modern living. IATA
  14. 83% of respondents agreed that the UN Sustainable Development Goals are significantly aided by the global air transportation network. IATA
  15. The number of passengers traveling abroad is expected to reach 3.5 billion in 2023, a significant 42% increase from the previous year. This is predicted to increase to 4 billion by 2024, growing at a rate of 14% annually. ACI
  16. In contrast, it is anticipated that domestic passenger traffic will reach 5.2 billion in 2023, indicating a strong 25% annual growth. After increasing by 10% annually to an estimated 5.7 billion passengers in 2024, this growth is anticipated to slow down somewhat. ACI
  17. In terms of long-term trends, it is anticipated that domestic passenger traffic will grow at a 3.8% CAGR between 2023 and 2042, while international passenger traffic will continue to grow at a steady 5% CAGR. ACI
  18. It is anticipated that by 2042, the international segment will account for 45% of all passengers, and by 2052, that percentage will rise to 46%. ACI

Airline Performance

  1. Due to supply chain problems in the aerospace industry, an inventory of 38.7 million flights is anticipated to be available in 2024, which is 1.4 million fewer than the estimates made in December 2023. IATA
  2. It is anticipated that there will be 1,583 aircraft deliveries in 2024, an 11% decrease from the 1,777 that were previously projected. IATA
  3. Airlines are using larger aircraft as a mitigating measure to deal with the slower delivery pace. IATA
  4. As per the most recent edition of the Boeing Pilot and Technician Outlook, there will be a 3.5% growth in the commercial fleet in 2024, resulting in a need for 649,000 new pilots over the next two decades, mostly in North America, China, and Eurasia (Boeing, 2024). Aero Crew
  5. In business aviation, deliveries from the top five OEMs are expected to surpass the 652 new aircraft delivered in 2019 by rising from 575 in 2023 to 670 in 2024. New aircraft such as the Falcon 6X and Gulfstream G700 are driving this growth (Lynch, 2024). Pilots are needed to operate these new aircraft, which means there must be at least 1,440 seats available if we assume that each new aircraft will have a crew of at least one. Aero Crew
  6. According to Skytrax, Qatar Airways is the greatest airline in the world for 2021. Gitnux
  7. Every day, about 100,000 flights take off and land all over the world. Gitnux
  8. With more than 10,000 delivered, the Boeing 737 is the best-selling commercial airliner of all time. Gitnux
  9. Operating from Singapore to Newark, the longest non-stop commercial flight in the world is 9,534 miles long. It is run by Singapore Airlines. Gitnux
  10. As the airline of the year in 2024, Qatar Airways won first place thanks to its outstanding service and inventiveness. Second-place Korean Air, third-place Cathay Pacific Airways, fourth-place Air New Zealand, and fifth-place Emirates are all very close behind. Forbes
  11. Other noteworthy winners for 2024 are Virgin Australia (best cabin crew), Emirates (best in-flight entertainment, best premium economy), Qantas (best lounges), Etihad Airways (best environmental airline), Air New Zealand (best economy class), and Singapore Airlines (best first class). Forbes
  12. Aeromexico (AM), with an OTP of 88.83%, took back the top spot worldwide.OTP increased significantly for JAL (JL) to 88.17%.ANA (NH), with an OTP of 87.21%, trailed closely behind. Fourth place went to Iberia (IB), with an OTP of 86.91%. With an OTP of 86.61%, LATAM Airlines (LA) remained in fifth position. Cirium
  13. Nearly 95 million aircraft moved globally in 2023—an increase of 11.8% over 2022 figures or a 92.7% recovery from pre-pandemic levels. ACI

Cargo Traffic

  1. While still exceeding the $101 billion in revenue in 2019, cargo revenues are predicted to decline to $120 billion in 2024 from $138 billion in 2023. IATA
  2. The $111 billion cargo revenue estimate from December 2023 was revised down to $204 billion in 2024. IATA
  3. In 2024, cargo yields are predicted to drop by 17.5%, but they will still be marginally higher than in 2019. IATA
  4. Due to increased belly capacity entering the market in 2023 along with the recovery of passenger travel, cargo yields have decreased. IATA
  5. By value, air cargo makes up over 35% of global trade, but less than 1% of total volume. Gitnux

General Aviation Safety Statistics

There is one fatal accident in the aviation sector for every 2.52 million flights. Gitnux

2024

  1. January: Japan Airlines Flight 516 and a Japan Coast Guard De Havilland Canada Dash 8 collided on the runway at Haneda Airport during the landing. While everyone on the Japan Airlines flight made it out safely, five people on the Coast Guard plane died. Panish
  2. February: At Belgrade Nikola Tesla Airport, during takeoff, Air Serbia Flight 324 collided with landing lights. All eleven passengers survived despite a large hole in the fuselage. Panish
  3. March: Nairobi mid-air collision: A Cessna 172 and Safarilink Aviation Flight 53 collided, resulting in the crash of the Cessna and the deaths of both occupants. Panish
  4. May: When Singapore Airlines Flight 321 took off from London-Heathrow to Singapore, it experienced extreme turbulence that killed one passenger and injured thirty more. Panish

2023

  1. 2023 saw a record-low fatality risk rate of 0.03 per million sectors due to no fatal accidents or hull losses involving jet aircraft. There were 30 total accidents in the commercial aviation sector in 2023 compared to 42 in 2022. IATA
  2. From 1.30 per million sectors in 2022 to 0.80 in 2023, the accident rate declined. There was one mishap for every 880,293 flights in 2023. IATA
  3. In 2023, a turboprop aircraft was involved in a single fatal accident that claimed 72 lives. Just 54% of accidents between 2018 and 2022 had an investigation report released. IATA
  4. The aviation sector's safety record has improved by 61% in the last ten years, as evidenced by the decline in accident rates from 2.06 per million sectors in 2014 to 0.80 in 2023. IATA

Airport Infrastructure Developments

  1. The estimated value of the world's airport infrastructure is $700 billion. Gitnux
  2. With an OTP of 86.54%, Benito Juarez International Airport (MEX) is ranked fifth among airports worldwide. Cirium
  3. With an OTP of 87.85%, Haneda Airport (HND) in Tokyo—the primary hub for JAL—performed admirably as well, ranking fifth among airports worldwide. Cirium
  4. In June 2024, Atlanta Hartsfield-Jackson International Airport (ATL) held the title of Busiest Global Airport with 5.5 million seats, a 2% increase in daily seats over the previous month. OAG
  5. Like it did last month, Dubai International Airport (DXB) is still in second place with 4.9 million seats. The gap between first and second place is slightly more than 0.5 million seats (11%).  OAG
  6. With 4.6 million seats and a 6% daily increase over the previous month, Dallas Fort Worth International Airport (DFW) has risen to the rank of third busiest airport this month. OAG
  7. With 4.9 million seats and a 1% capacity increase from the previous month, Dubai International Airport (DXB) is still the busiest airport in the world as of June 2024. OAG
  8. With 4.1 million seats, London Heathrow Airport (LHR) comes in second, 21% fewer than Dubai International (DXB).  OAG
  9. With 3.4 million seats this month, Amsterdam is still in third place. This represents a 1% increase in seats per day over the previous month. OAG

Technology Advancements

  1. Passengers' confidence in biometric identification is growing; in the past year, 46% of travelers used biometrics at airports, up from 34% in 2022. Furthermore, 75% of travelers favor biometric information over boarding passes and conventional passports. Future Travels
  2. According to SITA's '2023 IT Insights' report, 86% of airlines are working with innovation partners to progress computer vision, artificial intelligence, and machine learning. Of them, 47% intend to do so by the end of 2026, and 39% have already put these solutions into practice. Future Travels
  3. Similarly, 51% of airports plan to implement AI and ML by 2026, compared to 16% that do so already. Future Travels
  4. The growing significance of Generative AI in airport and airline operations is highlighted in SITA's 'Meet the Megatrends' report. 97% of airlines intend to create programs for this technology by 2023. Future Travels
  5. According to a study from the University of Maryland's CAASD, predictive maintenance using machine learning algorithms has the potential to save aircraft operating costs by up to 20%. Dreamix
  6. The ONE Order initiative is gaining momentum to substitute a customer-focused XML-based standard for PNR bookings. IATA predicts that by 2025, adoption will be widely used, and momentum will build through 2024. Dreamix
  7. Through the transmission of aircraft location and time data in real time, ADS-C EPP optimizes flight paths and fuel consumption. Its mass adoption is imminent, as it will be required for all new aircraft and air traffic systems starting in 2028. Dreamix

Market Trends and Labor Predictions

  1. Although overall labor costs are anticipated to rise by 7.6% to $214 billion due to higher volumes, unit labor costs are predicted to improve by 2.4%, reaching 12.9 cents/ATK in 2024. IATA
  2. It is anticipated that there will be 3.07 million airline jobs overall, which is slightly more than the 2.93 million jobs in 2019. IATA
  3. 65.5 million jobs are supported by the aviation sector globally. Gitnux
  4. Over the next 20 years, the aviation sector is projected to require 804,000 new pilots. Gitnux
  5. In the absence of a decline in future demand and/or significant efforts by the industry to increase the supply of pilots, we now project that the global aviation sector will be shorthanded by nearly 80,000 pilots by 2032. Oliver Wyman
  6. Airlines in North America alone will require about 130,000 additional pilots over the next 20 years. Oliver Wyman
  7. Outside of North America, we anticipate that the Middle East will be the area most quickly impacted by the shortage. By 2023 and 2032, there may be 3,000 and 18,000 fewer pilots in the area, respectively. Oliver Wyman
  8. Europe currently has an excess of pilots, and we anticipate that this will continue until the middle of the decade. However, by 2032, we anticipate a shortage of 19,000 pilots, primarily due to increased demand.  Oliver Wyman
  9. Boeing projects that there will be an unprecedented demand for new pilots, requiring 649,000 new pilots worldwide in the years 2024–2042, as previously mentioned. This can be further broken down geographically, with China, Eurasia, and North America accounting for 50% of global demand and requiring roughly 134,000, 143,000, and 130,000 pilots, respectively. SouthernWings

Fuel Expenses

  1. In 2024, fuel expenses are expected to average $113.8 per barrel, translating into a $291 billion fuel bill, or 31% of operating costs. IATA
  2. In 2024, high crude oil prices and a 30% crack spread will affect airline expenses. IATA
  3. The production of Sustainable Aviation Fuel (SAF), which will cost $3.75 billion—$2.4 billion more than the equivalent amount of jet fuel—is anticipated to meet 0.53% of the world's fuel demand in 2024. IATA
  4. Costs associated with CORSIA are projected to be $600 million in 2024. IATA
  5. In 2024, industry CO2 emissions are expected to come from fuel consumption of 99 billion gallons, or 935 million tonnes. IATA
  6. It is anticipated that non-fuel unit costs will stay constant at 39 cents per available tonne kilometer (ATK) in 2023, which is marginally less than the 39.2 cents/ATK in 2019. IATA

Regional Roundup

  1. North America:- $14.8 billion net profit in 2024 (based on a 4.5% margin and $13.10 per passenger). Demand (RPK) +7.0% and Capacity (ASK) +8.1% in 2024. North America is the industry leader in profits, with growing demand being driven by robust consumer spending. IATA
  2. Europe:- $9.0 billion in net profit (3.8% margin, or $6.93 per passenger) in 2024. Demand (RPK) +11.1% and Capacity (ASK) +11.5% for 2024. Europe expects robust demand in 2024, but labor disputes and supply chain problems could hurt profitability. IATA
  3. Asia-Pacific:- $2.2 billion in net profit (0.7% margin, $1.20 per passenger) in 2024. Demand (RPK) + 17.1% and Capacity (ASK) + 14.1% in 2024. Asia-Pacific is the region driving global RPK growth, especially in home markets, suggesting potential for future expansion. IATA
  4. South America: $0.6 billion in net profit (1.4% margin, $1.90 per passenger) for 2024. Demand (RPK) +8.2% and Capacity (ASK) +8.1% for 2024. Strong sales growth and profitability in important markets are the main drivers of Latin America's increased profitability. IATA
  5. Middle East: $3.8 billion in net profit (5.3% margin, $15.20 per passenger) for 2024. Demand (RPK) + 9.3% and Capacity (ASK) + 10.8% in 2024. While geopolitical risks continue to be a concern, the Middle East benefits from strong economic growth and investments. IATA
  6. Africa: $0.1 billion in net profit (0.6% margin, $0.90 per passenger) for 2024. Demand (RPK) +8.5% and Capacity (ASK) +9.1% in 2024. Africa expects to be profitable for a second year despite obstacles, thanks to a persistent demand for air travel. IATA
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