The Global Aviation Industry

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Introduction
The global aviation industry owes its success and survival to the swift advancements in technology and its practical application. Cutting-edge aerospace technology has enabled aircrafts to operate competently under a wide range of conditions, to destinations and climates around the world at the same time maintaining emphasis on safety. Technological innovations have played a pivotal role in reducing the cost of air travel and enabled air services to be widely accessible. This in turn has allowed people from all over the world to use air transportation on a routinely basis. This diffusion has permitted commercial aviation to play a far more important role in peoples’ lives.
However, as aviation technology evolves and molds, the political and trade institutions of air travel have continued to lag behind in responding to public needs. In the contemporary society, global aviation remains constrained by outdated and obscure policies, principles and traditions. These rules and regulations impose protective machinery that frustrates innovation, and has in the past directed the evolution of the industry into a contrived and artificial structure. By sheltering airlines from market forces, they reduce the incentives for them to pass the benefits of improved technologies on global aviation.
There is need to review and redevelop a detailed framework that governs global aviation since the very heart of aviation relations are encompassed upon it. Adopting a multifaceted and remedial approach to this issue will liberate aviation services between nations to generate significant opportunities for consumers, shippers, and the numerous direct and indirect entities. Conversely, it is also evident that lifting restrictive mutual air serv...

... middle of paper ...

...viation service and economic growth and all evidence suggests that the market will respond to an improved regulatory framework. Due to the nature of global aviation being an international activity, the concept of liberalization will remain respectable as it prevents archaic imposing, but at the same time its definition needs restructuring to counter contemporary realities and resolve the issues that continue to cause rifts among nations with long-standing territorial conflicts.

References
Erotokritou, C. (2012). Sovereignty over Airspace: International Law, Current Challenges, and Future Developments for Global Aviation. Retrieved from http://www.studentpulse.com/articles/645/
InterVISTAS-ga2 Consulting Inc. (2008). The Economic Impact of Air Service Liberalization. Retrieved from http://www.boeing.com/boeing/commercial/liberalization/index.page

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