Air Travel Globally

Despite the dramatic declines in air travel for several years following the terrorist attacks in 2001, over the last decade, humans have been flying more and more. Worldwide, approximately 513 million passengers traveled by air in 1991 and by 2007 that figure had quadrupled, reaching 2,076 million.

Today’s market size is the value of the global airline business in 2007 and a forecast of the value in the year 2012. What is not evident from these revenue based figures is the fact that airlines, despite their growth, have not added up to a profitable business sector. In fact, since deregulation in the United States in 1978, airlines as a whole have lost money.

Geographic reference: World
Year: Forecast for 2007 and forecast for 2012
Market size: $430 billion and $711 billion respectively
Source: “The Global Airline Industry Will Reach a Value of $711 Billion in 2012, Forecasts New Report,” a press release dated March 14, 2009, announcing the publication of a market report being offered through a web service called “Report Buyer.” The press release is available here. The original report is titled Airlines: Global Industry Guide.
Original source: Datamonitor
Posted on September 16, 2011