Global Air Travel Market to Reach 5.9 Trillion RPKs by 2015, According to New Report by Global Industry Analysts, Inc.
San Jose, CA (PRWEB) June 25, 2009 -- Air travel has become a vital part of human life owing largely to reduction in global barriers and continuous technological advancements. Over the years, air travel witnessed a plethora of technological advancements such as supersonic jets, intercontinental non-stop service, space travel, and jumbos. Since the beginning of 21st century, air travel, historically considered as a luxury, has emerged as an economic requirement. Currently, the world air traffic is registering sluggish growth owing to unfavorable global economic factors and fluctuating jet fuel prices. Though a drop in fuel prices in the fourth quarter of 2008 provided certain relief to airlines, the ongoing economic recession is the biggest challenge currently faced by airlines (http://www.strategyr.com/Air_Travel_Market_Report.asp).
However long term outlook for the global air travel market remains favorable driven by economic recovery, increasing air travel demand in developing countries like India, China, Middle East, expected reduction in ticket prices owing to market liberalization, and growth of low cost carriers. The extension of airline hubs and the improvement in intra-airport transportation capacity are also likely to propel the growth of air traffic. Over the long-term, air travel markets across the world are expected to open up through intensified competition and reduced regulations. Entry of new airlines is expected to further intensify the competition and drive the changes in operating conditions.
The US accounts for a major share of the global air travel market (http://www.strategyr.com/Air_Travel_Market_Report.asp), as stated in the new market research report. Though among the most dominant in the world, the US air travel market is currently hard hit by economic recession. Market has been witnessing declining growth in recent years due largely to escalating airline ticket prices and weakening GDP growth. Similar trends are witnessed in Europe, another important air travel market. In Europe, the Eastern and Central regions have emerged as major growth areas for low cost carriers.
Middle East and Asia-Pacific represent the fastest growing markets over the 2006-2015 period. Though short-term growth is slowing down in the Asia-Pacific region due to slump in air travel demand, the long-term forecasts continue to be bright for the region. Factors such as developing tourism infrastructure, open borders, exotic flavors, and increased flight availability are expected to play an instrumental role in the market growth in the future years.
The Air Travel market is characterized by intense competition, with four major carriers holding dominant share. Leading global players profiled in the report include Air Canada, Air France-KLM Group, American Airlines, Inc., British Airways Plc, British Midland Airways Limited, Continental Airlines, Inc., Cathay Pacific Airways Limited, China Southern Airlines Company Limited, Delta Air Lines Inc., Deutsche Lufthansa AG, EasyJet Airline Company Limited, Emirates Airline, First Choice Airways Ltd., Japan Airlines Corporation, Qantas Airways Limited, Southwest Airlines Co., United Airlines, Inc., and US Airways Group, Inc., among others
The report titled "Air Travel: A Global Strategic Business Report" announced by Global Industry Analysts, Inc provides comprehensive review of the prevailing trends, recent developments, players, competition, demand forecasts, mergers, acquisitions, and other strategic industry activities. The air travel market is analyzed in Billion Revenue Passenger Kilometer (RPK) (http://www.strategyr.com/Air_Travel_Market_Report.asp) by the following Geographic Regions - US, Canada, Japan, Europe, France, Germany, Italy, UK, Spain, Russia, and Rest of Europe, Asia-Pacific, China, Singapore, India, and Rest of Asia-Pacific, Latin America, Brazil, Chile, and Rest of Latin America Middle East, and Africa. Analytics are provided for the time lines 2001-2005 and 2006-2015.
For more details about this comprehensive market research report, please visit - http://www.strategyr.com/Air_Travel_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) (http://www.strategyR.com/) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs over 800 people worldwide and publishes more than 1100 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
Global Industry Analysts, Inc.
Telephone 408-528-9966
Fax 408-528-9977
Email press (at) StrategyR (dot) com
Web Site http://www.StrategyR.com/
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