The global domestic aviation market has been witnessing steady growth over the past few years. Domestic aviation refers to air travel within a country between two or more points but excluding international travel. It plays a vital role in fostering connectivity and tourism within countries. Rising disposable income levels among the middle-class population coupled with increasing urbanization has boosted demand for domestic air travel services across major economies. Furthermore, low-cost carriers have played a significant role in making air travel affordable for a wider segment of the population and expanding the market size. However, factors such as high taxes on jet fuel and aviation turbine fuel (ATF) along with stringent aviation regulations pose challenges to market growth.
Market Dynamics:
The global domestic aviation market growth is driven by several factors such as rising living standards, growing tourism industry, expansion of airport infrastructure, and low-cost carrier services. In addition, increasing investments by governments to enhance regional air connectivity has fueled market growth. However, volatility in crude oil prices leading to fluctuations in ATF costs act as a major restraining factor. High taxes imposed on ATF further burdens airlines' operational costs. On the other hand, initiatives towards developing innovative business models and expanding flight networks to tier 2 & 3 cities present lucrative opportunities. Introduction of advanced aircraft with low operating costs and minimal environmental impact can boost sustainable market growth over the coming years.
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*Browse 60 market data tables and 40 figures on "Global Domestic Aviation Market - Global forecast to 2031”
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