India Ranks 3rd-Largest Domestic Aviation Market

June 24, 2024

The Indian aviation market has grown to become the third biggest in the world. It has moved up from fifth place a decade ago to this important accomplishment. The success made under the leadership of Prime Minister Narendra Modi shows an excellent average yearly growth rate in airline seat capacity of 6.9%, which is the highest rate in the world.

Factors Driving Growth

Low-cost airlines (LCCs), which now have 78.4% of the market, have become very important. IndiGo is a big name in this field, and in the last ten years, it has grown its market share by half, to 62%, with an impressive yearly capacity growth rate of 13.9%. The rapid rise of low-cost carriers (LCCs) has made flying easier for more Indians, which has helped the economy grow.

Infrastructure Expansion

Along with the rise of the market, India’s aviation infrastructure has grown a lot. In the last ten years, the number of operational airports has gone from 74 to 157. This growth has been very important for keeping up with the growing number of domestic travelers, as shown by the fact that traffic records were broken after the pandemic.

Comparison with Global Markets

To be clear, the US had the most seats (about 84 million) in November 2023, followed by China with 65 million. India had about 15 million seats, while Japan and Brazil came in next with 12 million and 10 million seats, respectively. These numbers show not only how big domestic flight is, but also how strong each market is and how it plans to grow. In general, India’s situation shows how important it is becoming and how well it is doing strategically in the world of aviation.

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