Civil Aviation Market registering a CAGR of 8.9% from 2021 to 2028
Civil Aviation Industry Overview The outbreak of the COVID-19 pandemic has had a significant impact on the overall aviation industry. The civil aviation industry particularly confronted considerable revenue losses, with revenues plummeting over the year from USD 837.53 billion in 2019 to USD 459.64 billion in 2020 as travel restrictions and social distancing norms drastically reduced the demand for air travel during the first two quarters of 2020. Although the industry has been showing some signs of recovery since the third quarter, the recovery rate remains sluggish and it is anticipated that revenues would gradually attain their pre-pandemic levels only over the next five years. As such, the market is poised for a gradual recovery to generate revenues worth USD 1.09 trillion in 2028, registering a compound annual growth rate (CAGR) of 8.9% from 2021 to 2028. Gather more insights about the market drivers, restrains and growth of the Global Civil Aviatio...