The Federal Aviation Administration today released its annual forecast of US air traffic, predicting that passenger traffic would double by 2032. Revenue passenger miles, a standard measure of air traffic, is projected to increase from 815 billion in 2011 to 1.57 trillion in 2032, an average annual rate of 3.2%.
The FAA also projected the number of passengers who would be taking to the air:
According to the forecast, the total number of people flying commercially on U.S. airlines will increase by 0.2 percent to 732 million in 2012, then to 746 million in 2013, and then increase more rapidly to 1.2 billion in 2032. The aviation system is expected to reach one billion passengers per year in 2024.
Cargo traffic will grow as well, at an annual growth rate of 4.9% over the next 20 years.
The FAA press release is available here.
Top Gaining Stocks
Top Losing Stocks