Coronavirus: Airlines Estimated to Lose Billions

The Coronavirus epidemic could cause losses of nearly $27.8 billion for the airlines in the world, and almost half of this amount would be suffered by the Chinese market, the International Air Transport Association (IATA) estimated Thursday. For the first time since 2003, when the Severe Acute Respiratory Syndrome (SARS) crisis erupted, air transport suffered, according to IATA.

Commercial Aircraft Gas Turbine Engine Market Taking Off

The global commercial aircraft gas turbine engine market is predicted to expand at 6% CAGR during the forecast period (2016-2021) owing to the growth in aircraft fleet, asserts Market Research Future (MRFR). Aircraft gas turbine engines are the extensively used propulsion systems in the aviation sector. Turbofan and turboprop are the two types of turbine engines used. The market across the globe is estimated to expand at a rapid pace.

Airport IoT Market Sees Moderate Growth

IoT has found core application in the aviation industry. It is used for almost all activities from passenger handling to security. Market Research Future (MRFR) observes that the global airport IoT market is anticipated to register a moderate CAGR across the forecast period 2019 to 2025. Rising adoption of innovative technologies for operational activities in airports all over the world is likely to take charge of the growth of the market in the upcoming years.