The aviation industry's market outlook and emerging trends

With the global aviation industry now echoing the resurgence of the travel and tourism sector, the team at Cirium take a closer look at the market outlook and emerging trends

Prior to 2020, the last decline in worldwide airline capacity came in 2009, following the global financial crisis. As significant as this was, it proved to be relatively modest compared to the dramatic collapse during the COVID-19 pandemic.

Thankfully, capacity is currently experiencing a sharp recovery. Available seat kilometres (ASK), a measure of an aircraft’s carrying capacity available to generate revenues, were up 26% and flights up 46% for 2022.

While many major airlines are yet to return fully to pre-pandemic capacity, growth across the global industry is generally strong and the outlook for 2023 remains optimistic despite financial challenges and geopolitical instability
While many major airlines are yet to return fully to pre-pandemic capacity, growth across the global industry is generally strong and the outlook for 2023 remains optimistic despite financial challenges and geopolitical instability AirTeamImages.com/Andrew Hunt

Of course, this varies by region. Growth has been rapid in the US – far faster post-pandemic than after the 2009 crisis – but the opposite is true in Asia, where recovery has been hampered by extended travel restrictions and border closures, some of which remained in place well into this year.

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