CURRENT AFFAIRS

Detailed explanation-1: -India will become the third largest aviation market in the world displacing the UK by 2026, the International Air Transport Association (IATA) has said in its latest passenger forecast. An aviation market is defined by traffic to, from and within the country.

Detailed explanation-2: -This can be said in terms of domestic traffic; the Indian civil aviation industry has expanded to become the third largest in the world. It is anticipated that by 2024, India’s domestic aviation market will rank third internationally, contributing $ 30 Bn yearly to Gross Domestic Product (GDP).

Detailed explanation-3: -Today India has become the third-largest aviation market in the world. The UDAN Yojana has played an important role in this regard, ” she said. UDAN (Ude Desh ka Aam Naagrik) is the government’s ambitious regional air connectivity scheme and UDAN flights have carried around 1.15 crore people over the last six years.

Detailed explanation-4: -China’s tougher border measures and Japan’s cautious approach towards relaxation of inbound travel restrictions could displace Asia-Pacific as the world’s largest air passenger market for the year 2022.

Detailed explanation-5: -China had the largest commercial air travel market in 2020, with over 417.2 million passengers boarding planes registered to Chinese air carriers.