Growing Urban Population and Air Travel to Benefit Aircraft Industry
Growing urban population is expected to be one of the key factors contributing to increasing number of air travel. Consequently, this is expected to benefit global air transport industry, which is forecast to grow at CAGR 2.5% over the period of 2016-2020, with Asia posting even higher growth rates. Expanding number of air travellers is anticipated to encourage airlines to expand their fleets, in turn augmenting the demand for new commercial aircraft and aircraft maintenance services. Thanks to growing spending from air transport industry, global aircraft and spacecraft production is forecast to grow at CAGR 3.5% over 2015-2025, with USA and France accounting for the biggest share of production. More insights are available in global briefing Aircraft and Spacecraft: Trends, Developments and Prospects.