The aviation industry is a large global economic contributor, supporting huge employment and transporting of passengers across the world. Aviation Industry laid the groundwork for important technological, design and engineering breakthroughs. Despite ongoing challenges, the airlines face operationally, the future of aviation will see the industry continue to adapt and find innovative solutions in the areas of technology, environment and safety.
The aviation Industry is much challenged. Over the last few years, the airlines have been able to harness those challenges and to transform them into profitable opportunities. The industry’s ability to accomplish this has been amazing. As they constantly evaluate their metrics, the bottom line has evolved to a healthy place that has allowed the airlines to properly manage its competition. With rising passenger expectations, fuel costs, regulation changes and stiff competition, 2021 is sought to be a transformational year in an airline’s projections.
According to the forecast by the International Air Transport Association (IATA), the airline industry sector can anticipate another year of net profit growth. As each airline is looking to gain more market share along with the inclusion of updated technology, evaluating their operations and marketing strategies, they must be prepared to adapt to the forecasted trends so that they can better navigate obstacles and outperform their competition.
According to the International Air Transport Association (IATA), air travel worldwide will double to 8.2 billion travelers in the year 2037, largely as a result of airlines taking advantage of the current aviation industry trends. Despite the latest trends driving industry growth, the aviation industry as a whole will also need to focus on how to continue to meet these demands while adhering to increasing safety and environmental regulations and battling geopolitical turbulence.
4.Aviation Standards and Testing
The past few weeks for airline industry have proven we can still benefit enormously from flight safety improvements. If we look back a few weeks on the engine related incidents, things clearly went wrong. Incidents are bound to happen, but the use of technology may assist in finding the root causes both post-incident (reactively) and…February 26, 2021 Read More