India will become the world’s third largest aviation market around 2024 surpassing the UK, according to global airlines’ body International Air Transport Association (IATA). It projected total air passenger numbers to touch 8.2 billion in 2037.
Releasing the latest update to IATA’s 20-year Air Passenger Forecast, the grouping also cautioned that growth prospects for air transport and the economic benefits driven by aviation could be curtailed if protectionist measures are implemented by governments. According to the IATA, China would displace the United States as the world’s largest aviation market in the mid-2020s.
Source- Press Information Bureau (PIB)
Static/Current Takeaways Important For IBPS PO Mains Exam 2018:
- IATA Headquarters: Montreal, Canada, Founded: 19 April 1945.