Aviation

WHAT'S NEXT?: More than half of the expected new passengers over the next two decades will originate from China, which will displace the US as the world's largest aviation market by around 2029. More than half of the expected new passengers over the next two decades will originate from China, which will displace the US as the world's largest aviation market by around 2029. Sales of consumer and prosumer drones are soaring and the Federal Aviation Authority forecasts there will be more than 1.3 million licensed drone pilots by 2020 in the U.S. alone.

• The marketing strategy by manufacturers is expected to contribute to the growth of aviation biofuel market in the forecast period, 2019-2029.
• The Russian Defense Ministry said that the first set of anti-aircraft missile system S - 350 Vityaz will be delivered to the duty station in January of the coming year.
• China is planning a real-world pilot of its digital currency, the first phase of which could begin before the end of this year.
• Over the 2019-2038 period, passenger traffic in the Middle East is anticipated to grow at 5.1 percent CAGR, which could create a demand for 3,130 new aircraft, worth US$ 725 billion.
• As the aerospace filters are majorly used in the commercial aircraft and have witnessed increasing applications in the military aircraft as well, their growth outlook is anticipated to be high over the coming years.
• India is currently considered the third largest domestic civil aviation market in the world and is expected to overtake United Kingdom to become the third largest air passenger market by 2024.
• The Artificial Intelligence In Aviation market is expected to be valued at USD 152.4 Million in 2018 and is likely to reach USD 2,222.5 Million by 2025, at a CAGR of 46.65% during the forecast period.
• The aviation sector contributes £22 billion to the UK economy each year and provides over 200,000 jobs, and says its new laws will grow the aviation sector.
• The global market for aircraft airframe maintenance, repair, and operations (MRO) can achieve a growth rate of approximately 4% during the forecast period (2018-2025).
• The International Civil Aviation Organization is considering whether airlines will be able to use forest-based credits to offset their carbon emissions.
• Airbus, in a forecast published in 2017, predicted that air traffic will grow at 4.4% a year over the next two decades, requiring some 36,600 new passenger and 830 cargo aircraft at a total value of $5.8trn.
• Aircraft OEMs will deliver 2,420 new aircraft in 2020, which will bring the global commercial aviation fleet to 33,900 by the end of next year-meaning that the global fleet will be generating even more data to harness.
• To reduce the environmental impact of the aviation sector, the Air Transport Action Group has established goals to reach carbon neutral growth from 2020 and reduce net carbon dioxide emissions by 50% by 2050.
• In the UK, where the aviation market is relatively mature, demand for aviation is still expected to grow by around 1-3% annually to 2050, while global growth rates are 4-5% per annum, easily outstripping ICAO' s' s aspirational target of annual 2% efficiency gains until 2050.
• The global airport IoT market is anticipated to register a moderate CAGR across the forecast period 2019 to 2025.
• The Global Artificial Intelligence in Aviation Market is expected to reach USD 2209.03 million by 2025, from USD 110.4 million in 2017, growing at a CAGR of 45.4% during the forecast period of 2018 to 2025.
• Over the next 20 years, the aviation industry will need 754,000 new aircraft technicians and more than 80% of them are for the growing commercial aviation industry.
• Governments around the world have agreed to implement the Carbon Offsetting and Reduction Scheme for International Aviation which will help the industry achieve carbon-neutral growth from 2020.
• Projections of the aviation industry's share of global emissions include a rise to 22% by 2050 if no new radical technologies or policies are introduced.
• By 2026, the amount of data generated by global fleets will hit 98 billion gigabytes, with new aircraft generating up to 80 times what older planes do today.
• Envision a future where the air above at least one US city will be buzzing with unmanned electric aircraft delivering people and packages.

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Last updated: 16 February 2020