WASHINGTON: Growth in US air transport service revenues is forecast to average 5.4% annually through 2020. Demand is projected to increase as rising incomes drive gains in tourism and vacation travel while expanding global economic activity and trade boost the need for business-related travel and air freight.
Revenues for domestic scheduled passenger services are projected to rise 5.7% per annum over the same period, remaining the largest and fastest-growing discrete segment. Demand is expected to grow as recreational travelers and businesspeople continue to value fast transit times as travel needs increase, while ultra-low-cost carriers will entice consumers that might not otherwise afford to fly, boosting the volume of travelers and total revenue. These findings are featured in Air Transport Services: United States, a report recently released by Freedonia Focus Reports, a division of The Freedonia Group.
