The aviation industry and the businesses that support it are experiencing another year of unparalleled growth, thanks to an expansion in the global population able to afford air travel. Rising incomes and consumer spending are pushing passenger travel to record levels and fueling the largest year-over-year increase of the in-service fleet since 2008. Looking ahead a decade, air travel demand is anticipated to be equally robust, with an additional 200 million people expected to enter the middle class across the planet. Growth in revenue passenger kilometers (RPK) will regularly exceed the annual expansion of gross domestic product (GDP) in most economies—particularly in high-growth areas like China and India. Even amid global trade tensions, the projections for commercial air travel remain optimistic across all regions of the world.

EXECUTIVE SUMMARY 

STATE OF THE INDUSTRY 

FLEET FORECAST 

MRO MARKET FORECAST 

ECONOMIC SENSITIVITY ANALYSIS