The Global Passenger Air Transportation Market Was Valued at $463 Billion In 2017 According To TBRCÂ’s Latest Report

(I-TravelNewswire.Com, July 30, 2018 ) Passenger air transportation companies offer scheduled domestic and international passenger air transportation. Passenger air transport businesses’ revenues are mainly derived from the ticket purchases made by passengers, either directly or through a travel agent or tour operator. Air transportation also represents the fastest way to ship most types of cargo over long distances. Passengers and cargo can be transported by air either over regularly scheduled routes or on "charters," which are routes specifically designed for a group of travelers or a particular cargo.

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The global passenger air transportation market was valued at $463 billion in 2017, owing to development of airports in untapped regions. North America was the largest geographic region in the passenger air transportation market in 2017, accounting for nearly two-fifth of the global market share.

The passenger air transportation market in The Business Research Company’s report is split into three segments: passenger chartered air transportation, freight chartered air transportation, and other services.

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The USA was the largest country in the passenger air transportation market in 2017, accounting for 31% of the market share. This is mainly due to the presence of an extensive transportation network, high disposable income and a large customer base which includes both B2B and B2C customers.

The top five competitors in the market are American Airlines, Delta Airlines, UnitedContinental, Deutsche Lufthansa, and Air France KLM. American Airlines, Inc. operates as a global network air carrier. The company provides scheduled air transportation services for passengers and cargo. It also offers freight and mail services. The company operates hubs in all major states of the USA. It is a subsidiary of American Airlines Group Inc.

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