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Characteristics of the air transport industry

by:CNS     2021-07-09
The characteristics of the air transport industry 2021-06-20 12:38:56 Since the Second World War, the United States has always been the world's largest air transport country, and the development of world air transport can be seen from the changes in the passenger turnover of air transport in the United States. pace. The total transportation turnover in the United States once accounted for more than 40% of the world. Due to the large proportion of American civil aviation, the development trend of world civil aviation is largely determined by the development of American civil aviation. In 1978, the US government implemented a deregulation policy, which greatly promoted the development of the air transport industry. 1978 has been a period of rapid development in the world's civil aviation. The total transportation turnover completed by ICAO member states is 113.3 billion ton kilometers, which has increased to 686.6 billion ton kilometers in 2012, with an average annual growth rate of 5.44%, which is the world's economic growth. 1.9 times the rate. my country's civil aviation industry began in 1918. In May 1920, the Beijing-Shanghai and Beijing-Tianjin sections started flights. This was the earliest route in China. 1978 was the opening year of my country's reform and opening up, and my country's civil aviation developed the fastest in the past 30 years. The total air transport turnover in 1978 was 298 million ton-kilometers, and in 2012 it reached 61 billion ton-kilometers, with an average annual growth rate of 16.94%, which is 1.7 times the GDP growth rate and 3,1 times the world civil aviation growth rate. , The proportion of aviation in the world rose from 0.26% to 9.8%. The world ranking of my country's total civil aviation transportation turnover has also risen from 33 in 1978 to the second place since 2005, second only to the United States. However, during this period, my country's civil aviation development also experienced five major ups and downs. That is, the 'May 5' hijacking event in 1983, the 'June 4' political turmoil in 1989, the Asian financial crisis in 1997, the 'SARS' epidemic in 2003, especially the global financial crisis in 2008, and the catastrophic earthquake disaster. The superposition of many other factors has caused the growth of air transportation to drop sharply, which is lower than the growth of the national economy, and in some years it has been negative growth. my country’s air transport passenger turnover statistics chart summarizes and analyzes the characteristics of the air transport industry. Generally speaking, this industry has a good basic trend of long-term rapid development, but its economy has obvious circularity. This can be seen more clearly by the percentage of profits or losses of ICAO member airlines to total revenue. Approximately an average of 7 years is a cycle, and there is a big fluctuation. In the next 10 years, there was a trend of shortened cycle and frequent fluctuations. Each cycle has about 3~4 years of decline, low speed and recovery process, followed by 5~6 years of rapid development, high-speed growth is often the prelude to the next fluctuation. While most industries face the increase in demand, their profits also increase, but the development of the air transport industry presents a paradox. Even in the years when demand is increasing, the marginal profit is very low, net profit only accounts for 2% of revenue after removing interest and taxes. Over the past 50 years, the rapid growth in demand for aviation services has only brought about an increase in marginal profits. Due to the different ratios of depreciation rate policies and leasing facilities of air transport companies, and often receive direct or indirect government subsidies, the traditional return on assets assessment is not suitable for the aviation industry. The air transportation system includes the properties of the general transportation system. For example, it needs transportation infrastructure and means of transportation; the production capacity is relatively fixed but the demand fluctuates; the production process is the consumption process, and the products cannot be stored. Unsold seats or tonnage will still be produced, but no revenue will be generated. Transportation products are intangible and cannot be purchased after judging their quality. The quality of the product can only be felt during the consumption process after the purchase, and the quality can be evaluated after consumption. Those who are not satisfied can only complain afterwards. But it also has properties that other transportation systems do not have. For example, the means of transport is airplanes, which are high-tech products, and the prices are high; the route navigation system is composed of different heights, and there is no need to build roads or railways, and it is not affected by terrain. Restrictions of speed; high speed and high operating cost, but not high marginal cost; airport is the connection point between air transportation and land transportation, and is an important place for transportation activities; safety management is particularly important; it can achieve international rapid transportation, and it is also vulnerable to The impact of global economic crises, wars, pandemics, infectious diseases and international terrorism. In the early stage of the development of my country's civil aviation, due to its small scale and imperfect market mechanism, the volatility of international civil aviation is not prominent in our country, but there are fluctuations caused by special events in the country. Since the beginning of the 21st century, the development of my country's civil aviation industry has been increasingly affected by international factors. The development of civil aviation in the world and China and the United States has fully demonstrated that its cyclical fluctuations are caused by a variety of factors. Major political, economic and social events, the occurrence of major natural disasters, and their own security risks have all brought serious impacts. Air transportation is a particularly risk-intensive industry.
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