2023-09-09 09:26:00
(Ecofin Agency) – The prospects are interesting for African air transport in view of the projections for the years to come. But many structural challenges still constitute obstacles for this sector, which is already lagging far behind other regions of the world.
South Africa, Morocco, Ethiopia, Egypt and Nigeria are the leading figures in the rise of the African airline industry in recent years, according to a recent report from the Forbes. The major role attributed to these countries is reflected in the progression of certain key indicators such as the sustained growth of economies, the emergence of a middle class and the level of urbanization.
Apart from the traffic generated by commercial companies, the report emphasizes the emergence of private aviation in these countries, as an important factor in the progress. South Africa and Nigeria have the largest private aircraft fleets on the continent, with nearly 416 and 100 private jets respectively, according to the 2019 report from consultancy agency AV Data/Jet.
As for the annual passenger flows in these countries, official data for 2022 indicates that South Africa received almost 40 million travelers, Morocco 20.5 million and Nigeria around 14 million. For the entire continent, overall traffic in 2022 was around 178.6 million passengers, and IATA forecasts call for annual growth of 5.7% on average until 2034. This might open up the path to greater prospects for several sectors.
“The growth of the African aeronautical sector is much more than just a regional phenomenon: it has global implications. As Africa’s connectivity increases, so does its integration into the global economy. This integration can stimulate trade, attract investment and boost growth”we can read in the report.
Other emerging players such as Kenya, Ethiopia and Egypt might soon become hubs for this industry. But unless addressed effectively, some significant challenges such as political instability, lack of maintenance infrastructure, sustainability issues, local manufacturing of aircraft and their components might delay the growth momentum. of the sector.
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