Introduction
Commercial aviation has had a profound impact on both the US and the global economy since its inception in the early 20th century. It has revolutionized the way people travel and conduct business and has opened new markets and opportunities around the world. In this essay, the effects of commercial aviation on the US and global economy will be discussed.
Main body
Firstly, commercial aviation has had a significant impact on the US economy. The US aviation industry positively and significantly contributes to the job market. The industry includes airlines, airports, air traffic control, and related businesses such as aircraft manufacturing and maintenance. Also, commercial aviation has facilitated the growth of other industries such as tourism and hospitality, as people can travel easily and cheaply to different parts of the country. The United States’ worker income profile is significantly impacted by the rise of the aviation and aerospace sectors (George, 2019). Business activities can now be expanded across the nation and internationally due to the accessibility of air travel, which has boosted economic growth and the creation of new jobs.
Secondly, commercial aviation has had a significant impact on the global economy. It has facilitated the growth of international trade and commerce, as people can travel easily and cheaply to different parts of the world. Moreover, air cargo has become a major industry, as goods can be transported quickly and efficiently between countries. The growth of low-cost carriers has made air travel accessible to more people around the world, leading to increased tourism and economic activity in developing countries.
However, commercial aviation also has negative effects on the environment. Over 81% of the world’s carbon dioxide emissions come from the aviation sector, which significantly contributes to climate change (Graver et al., 2019). With more fuel-efficient aircraft, the creation of alternative fuels, and the deployment of carbon offset schemes, the industry is attempting to lessen its carbon footprint.
Conclusion
In conclusion, commercial aviation has had a profound impact on the US and global economy, contributing to economic growth, job creation, and the expansion of international trade and commerce. However, it also has negative environmental impacts that need to be addressed. The industry must continue to innovate and develop more sustainable practices to mitigate its impact on the environment while continuing to support economic growth and job creation.
References
George, K. W. (2019). The economic impacts of the commercial space industry. Space Policy, 47, 181–186. Web.
Graver, B., Zhang, K., & Rutherford, D. (2019). Emissions from commercial aviation. The International Council on Clean Transportation. 1-13. Web.