States » SouthPosted at: Nov 14 2026 6:01PM


Aviation industry contributes USD 4.1 trillion to global GDP; grows faster than world economy

Thiruvananthapuram, Nov 14 (UNI) The global aviation industry contributes around $4.1 trillion to the world's GDP and is expanding at an annual rate of 4.6 per cent, outpacing overall economic growth, Latha Rani S, Chief Operating Officer of Naviq Technology, said here on Friday.
Delivering the keynote address on ‘When AI Takes the Wheel: Who Will Lead the Future of Global Travel?’ at Huddle Global 2026, she highlighted the industry's scale, economic contribution and growing dependence on technology and artificial intelligence.
The aviation sector currently comprises 736 airlines, which collectively transport 5.1 billion passengers through 38.7 million flights annually, supported by more than 4,000 airports worldwide, she said.
Beyond its economic contribution, the industry generates around 86.5 million jobs, underlining its significance in global employment and connectivity, she added.
Emphasising the transformative potential of technology, Rani said future travel would become smarter, more seamless and more personalised through the increasing integration of artificial intelligence.
While AI would play an increasingly important role in shaping the aviation and travel ecosystem, understanding the context in which the technology operates would remain crucial, she observed.
"AI may take over several functions, but it cannot replace human capabilities when people have a deep understanding of the context. Future readiness will depend not merely on technological expertise but also on the ability to learn continuously," she said.
Describing data as the foundation of intelligence, she said AI-driven systems would increasingly enable travel service providers to understand passengers' requirements even as they plan their journeys and move through airports.
With the integration of technology across the travel ecosystem, passengers could expect increasingly personalised services and more efficient travel experiences, she added.
Naviq, launched in July 2026 by IBS Software, is an AI-focused company developed specifically for the global travel industry. It combines the parent company's extensive experience in the sector with AI-led innovations to improve operational efficiency, personalise customer experiences and create new revenue opportunities.
The company focuses on emerging technologies and AI solutions, developing future-ready skills, global capability centre (GCC) delivery and operational excellence. Its solutions cater to several sectors, including airlines, airports, cruise operations, hospitality and logistics.
The three-day Huddle Global 2026, held from November 12 to 14 at The Leela Kovalam, brought together startup founders, investors, government representatives, social entrepreneurs, innovators, policymakers and industry leaders to discuss emerging technologies and opportunities in entrepreneurship and innovation.
UNI DS
Tags: #Aviation industry contributes USD 4.1 trillion to global GDP; grows faster than world economy
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