Aviation

Introduction

In recent years, the civil aviation industry in India has experienced remarkable growth, positioning itself as one of the country's fastest-growing sectors. This dynamic industry can be broadly categorized into scheduled air transport services, encompassing both domestic and international airlines, non-scheduled air transport services, which include charter and air taxi operators, and air cargo services involving the transportation of cargo and mail.

Domestic air traffic significantly contributes, making up approximately 69% of the total airline traffic in South Asia. Foreseeing this growth, India's airport capacity is anticipated to handle a staggering 1 billion trips annually by 2023. A testament to the industry's resilience, the Indian aviation sector has fully recovered from the impacts of the COVID-19 pandemic, evident in the air traffic movement reaching an impressive 327.28 million in FY23, rebounding from 188.89 million in FY22.

At the forefront of this aviation revolution is Indigo, the largest airline company in India boasting the highest market share. India has proudly secured its position as the third-largest domestic aviation market globally and is poised to surpass the UK, propelling itself to become the third-largest air passenger market by 2024.

Explore this website to delve deeper into the dynamic realm of Indian civil aviation, discovering the exciting developments and opportunities that await in this thriving industry. Buckle up for an incredible journey through the skies of progress and growth!

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Our commitment to understanding your organization, combined with our industry expertise, empowers us to deliver solutions that not only meet but exceed your expectations. With Cyberensic Global, you can rest assured that your organization's cybersecurity and information security needs are in capable hands.

Market Size

India's aviation landscape is primed for an incredible trajectory of growth, set to elevate the nation to unprecedented heights on the global stage. Forecasts by the International Air Transport Association (IATA) predict that by 2030, India will ascend to become the world's third-largest air passenger market, surpassing even the likes of China and the United States. This foresight is bolstered by the relentless surge in demand within the sector, propelling the number of aircraft in operation.

Anticipating this surge, the number of airplanes is projected to reach a remarkable 1,100 by the year 2027. In the fiscal year 2023, India's airports witnessed a monumental upswing in domestic passenger traffic, soaring to an impressive 270.34 million, marking a remarkable 62.1% Year-on-Year (YoY) increase. Simultaneously, international passenger traffic recorded an astonishing 157% YoY increase, reaching 56.9 million, showcasing the exponential growth in the aviation sector when compared to FY22.

From FY16 to FY23, freight traffic exhibited substantial growth, boasting a Compound Annual Growth Rate (CAGR) of 2.20%, climbing from 2.70 million metric tonnes (MMT) to 3.15 MMT. By FY23, freight traffic had already reached 3.15 million metric tonnes, with the potential to surge to an impressive 17 MT by FY40. Aircraft movements mirrored this remarkable growth, reaching 2.5 million in FY23 from 1,757,112 in FY22, reflecting the burgeoning demand for air travel in the country.

Addressing this burgeoning demand, the Government of India has been proactively increasing the number of airports. As of the year 2023, India boasts a network of 148 operational airports. Looking ahead, the nation aims to elevate this infrastructure by expanding to a robust 220 operational airports by the year 2025, ensuring seamless connectivity across the length and breadth of the nation.

Embark on an exciting journey through our website to delve deeper into the vibrant aviation landscape of India, where boundless opportunities and a soaring future await. Witness firsthand how India's aviation industry is poised to conquer the skies and leave an indelible mark on the global stage.

Advantage

India's Aviation Ascendancy: Advantages, Opportunities, Policies, and Investments

Advantage India: Robust Demand
The Indian aviation landscape stands on the cusp of unprecedented growth, fueled by a rising working-age population and a burgeoning middle class. This demographic shift is set to ignite a robust demand for air travel within the nation. By 2024, India is poised to claim its position as the third-largest aviation market in the world in terms of passengers.

Opportunities in MRO (Maintenance, Repair, and Overhaul)
The Maintenance, Repair, and Overhaul (MRO) industry present a substantial growth avenue in India. By 2028, the MRO sector is anticipated to surge beyond US$ 2.4 billion, soaring from its 2018 valuation of US$ 800 million. The government's strategic move to extend land allotment for MRO facilities to a generous 30-year period, as of September 2021, underscores its vision to establish India as a preeminent 'Global MRO Hub.'

Policy Support for Growth
India's aviation sector enjoys robust policy support aimed at catalyzing growth. Foreign investment up to 49% is permitted seamlessly through the automatic route, demonstrating India's openness to international collaboration. Additionally, the Union Budget 2021-22 witnessed a reduction in custom duty, dropping from 2.5% to 0% for aircraft component manufacturing by public sector units under the Ministry of Defence, fortifying the growth trajectory of the aviation industry.

Increasing Investments in Infrastructure
India's airports are slated to undergo significant transformations, with investments expected to surge between FY18-23, ranging from Rs. 420-450 billion (approximately US$ 5.99-6.41 billion). This substantial infusion of capital is geared towards enhancing the country's airport infrastructure, amplifying connectivity, and ensuring a seamless travel experience for passengers. The government's proactive approach in fostering private sector participation through Public-Private Partnerships (PPP) further underscores its commitment to elevating the aviation sector.

As we journey into this exciting era of aviation in India, the landscape is brimming with opportunities, supported by a conducive policy framework and substantial investments. Join us as we unlock the true potential of the Indian skies and soar to unparalleled heights of success and progress.

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