• About Us
  • Contact
Friday, March 31, 2023
No Result
View All Result
NEWSLETTER
The Business Wiz
  • Home
  • Featured News
  • Economic
    • Currency
  • Investment
  • Markets
    • Stock Market
  • Sectors
    • Agriculture
    • Commodities
      • Markets
    • Construction
    • Energy
    • Financial Services
    • Information Technology
    • Infrastructure
    • Manufacturing
    • Markets
    • Mining
    • Real estate
    • Telecomunication
    • Tourism
    • Transportation
  • Home
  • Featured News
  • Economic
    • Currency
  • Investment
  • Markets
    • Stock Market
  • Sectors
    • Agriculture
    • Commodities
      • Markets
    • Construction
    • Energy
    • Financial Services
    • Information Technology
    • Infrastructure
    • Manufacturing
    • Markets
    • Mining
    • Real estate
    • Telecomunication
    • Tourism
    • Transportation
No Result
View All Result
The Business Wiz
No Result
View All Result
Home Aviation

Africa’s commercial aviation market to hit $400 billion by 2040

by Shalua Mandar
25/05/2022
in Aviation
0
Africa’s commercial aviation market to hit $400 billion by 2040
Share on FacebookShare on Twitter

African airlines will need to recruit some 63,000 new professionals (including pilots, technicians and cabin crew members) over the next twenty years in order to ensure optimal service delivery.

This is one of the key growth projections that were made about the continent’s commercial aviation industry by American aircraft manufacturer Boeing, as contained in its recently released Commercial Market Outlook.

Air Tanzania cabin crew. African airlines will need to recruit some 63,000 new professionals over the next twenty years in order to ensure optimal service delivery.

According to the forecast which was obtained by Business Insider Africa, Africa’s commercial aviation market will be valued at a whopping $400 billion by 2040. And in line with this projected growth, airlines on the continent will acquire about 1, 030 new airplanes that will be valued at $160 billion.

“Africa has healthy opportunities to expand travel and tourism, coinciding with increasing urbanization and rising incomes. African carriers are well-positioned to support inter-regional traffic growth and capture market share by offering services that efficiently connect passengers and enable commerce within the continent,” said Boeing’s Managing Director of Commercial Marketing for Middle East and Africa, Randy Heisey.

Some of other factors that are expected to help drive Africa’s commercial aviation growth are the continent’s projected 3% economic growth over the next two decades, the African Continental Free Trade Area (AcfTA) and Single African Air Transport Market which are all expected to encourage cross-border trade and travels.

Also note that Africa’s middle class is expected to increase significantly during the forecast period, thereby driving up the need for air travel. As a matter of fact, annual passenger traffic is projected to grow by 5.4%, the third highest growth rate in the world according to Boeing.

In line with the foregoing therefore, African airlines will need to recruit 19,000 new pilots, 20,000 technicians and 24,000 cabin crew members between now and 2040. In the same vein, they will systematically increase their fleet size by 3.6% in order to accommodate the expected increase in air travelers.

Source: Business Insider Africa

Shalua Mandar

Shalua Mandar

Next Post
2022 African Economic Outlook: Africa’s growth could slow to 4.1 pct in 2022

2022 African Economic Outlook: Africa’s growth could slow to 4.1 pct in 2022

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Exchange Rate

Exchange Rate USD: Fri, 31 Mar.

Recommended

Volt to update Tanzanian graphite study

Volt to update Tanzanian graphite study

7 months ago
EABC roots for improved transport logistics to increase efficiency

EABC roots for improved transport logistics to increase efficiency

8 months ago

Popular News

    News

    Get latest news from us.


    SUBSCRIBE

    Category

    • Agriculture
    • Aviation
    • Banking
    • Commodities
    • Construction
    • CSR
    • Currency
    • Economic
    • Energy
    • Featured News
    • Financial Services
    • Information Technology
    • Infrastructure
    • Investment
    • Jobs
    • Manufacturing
    • Markets
    • Mining
    • Others
    • Q&A Interviews
    • Real estate
    • Telecomunication
    • Tourism
    • Transportation

    About us

    The Business Wiz (TBW) is Tanzania’s premier one-stop online platform providing in-depth, accurate and timely business news, analysis, commentary and online business information portals and research.

    • About Us
    • Contact

    © 2022 The Business Wiz

    No Result
    View All Result
    • Home
    • Featured News
    • Economic
      • Currency
    • Investment
    • Markets
      • Stock Market
    • Sectors
      • Agriculture
      • Commodities
        • Markets
      • Construction
      • Energy
      • Financial Services
      • Information Technology
      • Infrastructure
      • Manufacturing
      • Markets
      • Mining
      • Real estate
      • Telecomunication
      • Tourism
      • Transportation

    © 2022 The Business Wiz

    en English
    ar Arabiczh-CN Chinese (Simplified)en Englishfr Frenchde Germanit Italianru Russianes Spanishsw Swahili