FAA sees aerospace growth

The United States will see a "competitive and profitable aviation industry characterized by increasing demand for air travel [with] airfares growing more slowly than inflation" over the next two decades. That's according to the FAA's annual Aerospace Forecast for fiscal years 2017-2037. "Looking ahead, there is confidence that the industry has been transformed from that of a boom-to-bust cycle to one of sustainable profits," FAA said in the report. The FAA projected that "traffic growth by U.S. mainline and regional carriers will increase at an average rate of 2.4 percent per year," while "passenger growth on US carriers will increase at an average 1.9 percent per year." (Source: Air Transport World, 03/21/17)