Your prediction of the airline industry in 20 years?

Same as today. Probably a couple new models by then. Hopefully a Concorde replacement by then.
 
history of the economy shows its hills and valleys, with hills peaking slightly higher with each valley.
In twenty years, we may be in a valley or heading there.

Still, I think airline industry would still be like today.
low cost, bad service, cramped, (unless you're rich etc. but with more efficient planes, running probably on a biofuel mix.
There will be lots of smaller regional airlines and less big airlines that serve destinations everywhere. Asian airlines will thrive, requiring 747s and A380s even on shorter domestic routes while north american airlines will all turn to using a low-cost operating scheme like jetblue, or ryanair. All in all, there would be a rise in ridership compared with today regardless. More planes will be in the air, airports will be bigger and "greener".

perhaps we might see the dawn of space tourism and the pioneers of hypersonic passenger flight by then as well. Nobody seems to even be bothering with supersonic commercial travel anymore. Concorde proved that the disadvantages outweighed the speed advantage. (And no matter how fast, still not faster than data through a fiber optic line)
 
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