The ICAO forecasting application using the state of the art econometric models is a one stop solution for all planning and optimization needs of States and other aviation stakeholders. With its comprehensive modules, the application enables users to generate customized forecasts for traffic (i.e. passengers, RPK and load factors) and operations (i.e. flight departures and capacities) at multiple levels of granularity selected.
Development of the forecast model specification is grounded in economic theory, which is used to identify the most important determinants of air travel demand.An econometric modeling framework is developed to capture statistically significant historical relationships between air travel demand and economic and demographic factors. These identified relationships are then used as the basis for producing traffic demand forecasts.
In addition to traffic forecasts, the application provides a comprehensive historical data set of air traffic for the period 1995 to 2015 at granular level.