After 2024's IATA Annual General Meeting in Dubai, the international aviation agency released its annual report on air traffic in 2023.

What do the figures look like?

Over the past year, the United States of America has maintained its position as the world's leading domestic aviation market, with 15.4% of the total worldwide domestic market. Not far behind the US was the People's Republic of China with an impressive 11.2%

In April 2023, domestic demand increased by 4.0% compared to the previous year. At the same time, capacity rose by 2.1% year over year, leading to a load factor of 82.6%. This indicates a significant increase in demand and capacity utilization compared to April 2022.

According to the results of the IATA Passenger Survey, an overwhelming majority of 88% of respondents conveyed a positive sentiment regarding the influence of air travel on their lives.

Aviation goes international again

During the annual general meeting in 2023, the aviation industry had the chance to reflect on a year marked by significant recovery and exciting developments. Notably, Air Tahiti Nui unveiled plans for a new international route linking Paris to Papeete via Seattle, providing travelers with a convenient and innovative travel option. In a surprising move, China Southern launched a new road connecting Guangzhou, Zhengzhou, and Luxembourg in late December 2023, further expanding global connectivity. These announcements demonstrated the industry's resilience and commitment to meeting evolving travel demands.

Data from IATA's passenger report reinforces this; in the past year, international flights represented around 60% of the total movements logged.

Bottom line

Not only does aviation perform well in domestic sectors like the US or the PRC, but international travel has seen a healthy recovery.

With more new routes coming throughout the year and the prospect of Project Sunrise just over the horizon, they can remain cautiously optimistic about a total rebound of the industry in the next 365 years.