India to be world’s 3rd largest aviation market in a decade

India will displace the UK as the third largest aviation market in 2026, as per the International Air Transport Association’s (IATA) 20-Year Air Passenger Forecast. The report expects 7.2 billion passengers to travel in 2035, nearly double of the 3.8 billion air travellers in 2016. “People want to fly. Demand for air travel over the next two decades is set to double. Enabling people and nations to trade, explore, and share the benefits of innovation and economic prosperity makes our world a better place,” said Alexandre de Juniac, IATA’s Director General and CEO. The forecast for passenger growth confirms that the biggest driver of demand will be the Asia-Pacific region. It is expected to be the source of more than half the new passengers over the next 20 years. China will ultimately displace the US as the world’s largest aviation market (defined by traffic to, from and within the country) around 2029. The prediction is based on a 3.7 per cent annual Compound Average Growth Rate (CAGR).