FAA RELEASES 2019-2039 AEROSPACE FORECAST
June 27, 2019
As part of its long-term planning for the needs of the U.S. aviation system, the FAA released this month its Aerospace Forecast Fiscal Years (FY) 2019-2039. The report examined data from 2018 and projected future trends in the commercial passenger, air cargo, general aviation, UAS, and commercial space sectors. Aviation sector growth tracks largely with global economic activity, which is expected to show moderate growth over the coming years despite rising trade tensions and regional economic slowdowns. Overall, the FAA wrote, “we see a competitive and profitable aviation industry characterized by increasing demand for air travel and airfares growing more slowly than inflation, reflecting over the long term a growing U.S. and global economy.”
With regard to foreign air transportation, the FAA projects that total passenger volume in and out of the U.S. across all foreign air carriers will reach 253.8 million passengers in 2019. The fastest-growth region for this traffic is the Pacific and Asia, at 3.6 percent per year, followed by Latin America (3.5%), Canada (3.3%) and the Atlantic (3.0%). The FAA projects greater than three percent annual growth in overall international passenger volume each year in the 2019-2039 timeframe.
If you have any questions, please contact Evelyn Sahr (esahr@eckertseamans.com or 202-659-6622); Drew Derco (dderco@eckertseamans.com or 202-659-6665), or Alexander Matthews (amatthews@eckertseamans.com or 202-659-6633).
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