India to be world's third-largest aviation market by mid 2020s


The biggest contribution in this growth will come from the Asia-Pacific region, which will account for half the total number of new passengers over the next 20 years.

While China will climb up one spot to displace USA as the world's largest aviation market in the mid-2020s, India will take the third place by surpassing the United Kingdom around 2024, according to the IATA forecast.

In its latest 20-year forecast for the aviation industry, the International Air Transport Association (IATA) says that air passenger numbers worldwide could double to 8.2 billion in 2037. India will take the third place after the U.S. around 2024, surpassing UK. Indonesia is expected to go from the world's tenth largest aviation market in 2017 to the fourth largest by 2030.

Thailand is expected to enter the top 10 markets in 2030, replacing Italy which drops out of the ranking.

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IATA, however, warned that growth prospects for air transport, and the economic benefits driven by aviation, "could be curtailed if protectionist measures are implemented by governments".

Over the next two decades, the forecast anticipates a 3.5 percent compound annual growth rate (CAGR), leading to a doubling in passenger numbers from today's levels.

"Firstly, we are seeing a geographical reshuffling of world air traffic to the East".

Alexandre de Juniac, Iata's director general and chief executive, warned that a no-deal Brexit could lead to "thousands, millions of passengers" potentially grounded at airports after the United Kingdom leaves the European Union on 29 March 2019.