Trends in the development of the aviation industry in the face of global challenges

Abstract

The article examines the role and importance of the aviation industry in the world economy. The peculiarities of the development of the national aviation industry are highlighted. It is noted that the aviation industry has a branched structure, but the main structural links are aviation production and air transportation. The trends in the functioning of the aviation market at the present stage are analyzed. It is found that the demand for transportation leads to an increase in demand for the products of the aviation industry, as airlines seek to increase their carrying capacity. The factors of influence on air transportation are identified: development of international trade; fuel cost; level of income of the population, including the level of wages; dynamics of exchange rates. Attention is focused on the regional passenger transportation market, which also reflects the trends in the global economy. In the short term, a significant increase in passenger traffic is expected in China. It is emphasized that the regions of the Middle East and Latin America will outpace the countries of Europe and North America in terms of passenger traffic growth. It is substantiated that the global aviation industry is characterized by constant growth, which is formed under the influence of the growing demand of airlines for new aircraft, which was temporarily suspended due to coronavirus restrictions. The main factors that determine the level of demand for airline services are comprehensive development indicators: GDP, per capita income, and business activity. The authors emphasize the role of the Ukrainian aviation industry, which ensures the country's defense capability and sovereignty. It is emphasized that the national aviation industry should play a significant role in ensuring high incomes, the contribution of high-tech industries to the GDP structure and employment of qualified personnel, as well as in solving large-scale socio-economic and infrastructure problems, and ensuring national security in the long term. The author summarizes that global challenges, on the one hand, lead to a reduction in the volume of production and services provided by the aviation industry, and, on the other hand, provide opportunities for development based on the latest technologies.