Why is it in news?
- India will be the third largest aviation market globally.
- It is expected to be among the top three countries by 2024 from its current seventh position, according to global aviation body IATA.
- InIn its latest 20-year forecast for the aviation industry, the International Air Transport Association (IATA) predicted that air passenger numbers worldwide could double to 8.2 billion in 2037.
More in news
- The biggest contribution in this growth will come from the Asia-Pacific region, which will account for half the total number of new passengers over the next 20 years.
- According to the IATA forecast, China will climb up one spot to displace US as the world’s largest aviation market in the mid-2020s, India will take the third place by surpassing the U.K. around 2024.
Source
The Hindu