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The Air Transportation Global Market Is Valued at $653 Billion In 2017 According To TBRC’s Latest Report

(MoneyNewsWire.Net, July 06, 2018 ) The air transportation industry uses aircraft, such as airplanes and helicopters to provide air transportation services of passengers and/or cargo. It includes services offered by both scheduled and nonscheduled air carriers, however, scenic and sightseeing air transportation and air courier services are not included under the air transportation industry.

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The global air transportation market is valued at $653 billion in 2017. This can be attributed to stable economic growth outlook in many developed and developing economies and increasing public and private investments to develop airports in untapped regions.

In the report, the global air transportation market is divided into three segments. Passenger segment occupies the major share, accounting for nearly 70% of the market and the remaining 30% of the share is attributed to other two segments, namely, chartered air transportation and cargo.

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The USA was the largest country in the air transportation market in 2017, accounting for nearly 30% of the market share. This is mainly due to a well-developed airport infrastructure, a large customer base and high disposable income for leisure travel in country. China and the UK followed the USA as next largest countries in the market.

The air transportation market is fragmented with a number of large and small organizations. The top five competitors in the market made up around one fourth of the total market in 2017. American Airlines Group was the largest competitor of the market, followed by Delta Air Lines and United Continental Holdings. American Airlines Group is an airline holding company that provides scheduled air transportation services for passengers and cargo. It operates 930 mainline aircrafts and serves more than 350 destinations in over 50 countries. The company is headquartered in Texas, United States and employs 124,300 people.

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