The aviation sector is in trouble, now hopeful of innovation, the days ahead for the aviation and space industry is challenging with excitement
The field of aviation faltered during the pandemic. Things are still not as good as before, but the recent important events have changed things completely. Initiatives are being taken on cost-cutting techniques, business integration, balance sheet rework, and most notable new green initiatives.
The space efforts of Elon Musk and Jeff Bezos have opened new avenues for the adventure-filled aviation sector. SpaceX has become the most valuable startup in the world today. SpaceX's own broadband internet system, Starlink, is being tested in parts of the US, UK, and Germany through a network of satellites that will bring fast internet to every corner of the world.
Initiatives to reuse space vehicles have prompted established companies to change. United Launch Alliance, a joint venture between Boeing and Lockheed Martin, has cut costs. European firm Arianespace has also cut costs. SpaceX's Starship has six times the carrying capacity of the Falcon-9 and is fully reusable. It’s cost per launch is estimated to be less than two million dollars from SpaceX's current rocket.
The International Air Transport Association does not have a positive outlook on the aviation sector. It is estimated that without government aid, only 30 of the world's 700 airlines would survive. In the absence of a bailout package, the world's biggest companies such as Europe's largest local airline Flyby collapsed in March 2020, Virgin Australia in April, and Latin America's largest LATAM in May. However, this environment has only fueled further cost-cutting and energy-saving initiatives.
The good thing is that people are starting to think about it now. People have become sensitive about travel. A campaign is also going on, in which eco-friendly and cheap means of travel like train etc. is being promoted. Campaigns like 'flight shaming' may not be popular in the world, but youth are promoting it. Due to this, airlines are being forced to try the technology of cheap and sustainable fuel.
Biofuel is possible, but due to its cost, its commercialization is not possible. One way to innovate as energy in aircraft could be hydrogen and electricity. Hydrogen is used in zero-carbon fuel cells. There is no doubt that due to various logistical issues including the low calorific value of hydrogen, the aircraft will have to be redesigned, as is currently being done by companies like Zero-Avia. The days ahead are challenging with thrills for the aviation and space industry. After Corona, it is expected that along with green efforts, the economic recovery of the aviation sector will also be strong.