Slow growth expected for aviation industry
March 15, 2013, 10:31 am
According to statistics recently released by the Federal Aviation Administration, general aviation is expected to show improvements in growth over the next 20 years. Despite the growth expected over the next two decades, the industry will only improve at a rate of ½ or 1 percent every year, the FAA reported. The FAA also recently reported that the total number of aircrafts used for general aviation purposes will increase from 220,670 in 2012 to 246,375 in 2033, which will be a significant increase for the sector. The number of hours that pilots spend in the air is also expected to increase drastically, growing annually with a rate of 1.5 percent a year. With the number of flights increasing, turbines will also grow significantly by 3.5 percent annually, the FAA reported. The aviation industry is also tackling an issue that was recently presented when passengers were allowed to bring small knives onto commercial airplanes. Considering the many dangers that are present when flying, aviators should make sure they have pilot insurance to prepare for any unexpected circumstances that might arise while navigating the skies.
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