Aerospace Industry
Aerospace Industry Sees High Growth
Over the past 30 years, the airline industry has grown exponentially due to escalating global travel demand. Passenger air traffic has doubled every 15 years since the early eighties1, and is expected to grow at an average annual rate of 3.8% over the next 20 years to reach 7 billion passengers in 2034.
There is massive economic promise in the Asia-Pacific region given the forecast of a 20-year annual growth rate at 4.9%. In 2034, the region as a whole will account for 42% of global passenger traffic, with an extra 1.8 billion passengers. Given its immense growth potential and budding opportunities, many worldclass aerospace companies are looking to expand and locate their business in the Asia-Pacific region.
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