Traffic is continuing its recovery. International Civil Aviation Organisation (ICAO) preliminary figures show scheduled traffic measured by revenue passenger kilometres (RPK) increased by approximately 7.5% in 2005 compared with 2004. Capacity additions, measured by available seat kilometres (ASK), increased more slowly, resulting in higher load factors and asset utilisation. Growth was greatest for the airlines in the Middle East followed by those in Latin America while Asia-Pacific and European growth was similar to the world average. Growth in the United States was more muted due to the severe hurricanes.

Asia’s airlines are currently the most profitable and are expected to gain most from the growth of air travel. Chinese traffic expansion will be the fastest worldwide, according to Airbus, with average annual growth in RPKs of 8.2% over 20 years, compared with a 5.2% global average. By 2023, Asia-Pacific is expected to have a 31% share of world traffic, with Europe having 32% and North America 26%. Today’s split is 33% North America, 32% Europe and 25% Asia-Pacific.

Looking forward, according to the Airbus Market Outlook, global passenger traffic will grow three times to nine trillion RPKs between 2004 and 2023. To fulfil this growth, airlines will invest in 16,600 new passenger planes with a seating capacity above 100 seats, and 700 new freighters. In the helicopter market, industry experts anticipate between 2,600 and 3,000 new civil use helicopters to be delivered during the next five years. Corporate, emergency medical services, oil and gas, and national parapublic helicopters (eg homeland security, law enforcement, and fire fighting) are expected to lead the market. North America will remain the biggest market, while emerging Asia will contribute most to future growth.