Increased aviation activity in India, China, and the Middle East leads to substantial financial gains for Airports of Thailand (AOT)
The global aviation industry is poised for significant expansion over the next two decades, with the fleet of passenger and freighter aircraft projected to nearly double from 24,730 units at the end of 2024 to 49,210 units by the end of 2044.
According to the Airbus Global Market Forecast, this growth is particularly evident in 2021, with substantial growth anticipated for global aviation, especially in Asia and the Middle East. The forecast for global passenger traffic, measured in Revenue Passenger Kilometres (RPKs), is expected to grow at an average rate of 3.6% per year through to 2044.
The aviation industry contributes 3.9% to global GDP and provides 86.5 million jobs, underscoring its crucial role in the global economy. In the first nine months of fiscal year 2025, AOT's aviation revenue reached 25.64 billion baht, up by 10.22% from the previous year.
Asia-Pacific is projected to be the fastest-growing aviation market globally, driven by countries such as China, India, and Southeast Asian nations. Growth rates around 5% to 6% Compound Annual Growth Rate (CAGR) or even higher are often forecasted for passenger numbers and cargo volumes over the next 20 years.
The Middle East region is also a major growth hub, with its geographic position making it a key global aviation hub. Airlines from the Middle East, such as Emirates, Qatar Airways, and Etihad, continue to expand routes connecting East and West. Growth rates in this region are typically forecasted around 4% to 6% CAGR.
AOT, a significant player in the aviation industry, is committed to addressing environmental and community challenges, essential for sustainable long-term development and ensuring Suvarnabhumi remains a leading regional aviation hub. AOT is implementing an energy-efficient system with 400 Hz electrical service and PC-AIR air conditioning at Suvarnabhumi’s Satellite Terminal 1 (SAT-1).
In the first nine months of fiscal year 2025, AOT reported a total of 602,195 flights, a 9.79% increase from the same period last year. Passenger numbers rose by 7.87% to 97.24 million, with 59.48 million international passengers and 37.76 million domestic passengers. International flights at AOT's six airports numbered 341,523, while domestic flights totaled 260,672.
AOT is exploring new sources of income to enhance its future sustainability, particularly non-aeronautical revenue. The company is also focusing on improving operational efficiency by replacing older models with approximately 18,930 aircraft, which will reduce environmental impact per passenger kilometre.
While specific data on the projected growth rate of the global aviation industry over the next 20 years is not currently available, industry analyses generally project a CAGR between 3% and 5% over the next two decades, driven largely by increasing air travel demand in emerging markets, especially in Asia and the Middle East.
However, it's important to note that risks such as economic downturns, political instability, environmental regulations, and climate goals could affect actual growth trajectories. For very recent or detailed quantified forecasts, including CAGR estimates by region, consulting specialized industry reports from IATA, Boeing, Airbus, or regional aviation authorities would be advisable.
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