Global Aviation- Economic Impact &Sustainable Growth

Abstract

In an increasingly globalised world, air transport is a vital element, directly and indirectly contributing significantly to the development process through its various economic benefits, employment generation, driving infrastructure, trade, business production and tourism with its inherent multiplier benefitⁱ. However, with the growth,Increasing environment sustainability concerns and aviation fuel turbulence remain major global challenges. By and large the profitability improves with falling oil prices. Ever evolving technologies, the changing dimensions of war, a growing reliance on cyber domain are completely redefining the changing nature of security concerns and cooperation. Integration and convergence of physical and cyber domain is inevitable. In fact, development and spread of Industrialization is mirrored in growth and development of aviation and vice versa. While, the continued growth of aviation seems credible, what is further encouraging going forward, that there is definitely an evidence of greater interest in removing some of the policy impediments to change.

i