Hyderabad: civil Aviation Minister Jyotiraditya Scindia said that India is ready to witness doubling of its homely air passenger traffic From 153 million annually to 300 million in 2023 2030,
Pointing out that India has emerged as a shining star in the global civil aviation sector in the last decade, Scindia said the Indian market offers huge growth potential in the coming decades given its very low penetration level.
“Even with achieving 300 million passengers per year, India will still remain one of the least penetrated markets among the top 20 markets in the world. This means that today our penetration is 3-4% and with 300 million it Will increase to 10.-15% but we are still yet to penetrate 85%,” he said after inaugurating the Wing India 2024 aviation industry show in the city.
“Today, India is the third largest domestic civil aviation market in the world, the seventh largest international civil aviation market in the world and if you combine the two, we are the fifth largest civil aviation market in the world,” he said.
Scindia also said that domestic passenger traffic has been growing at an astonishing CAGR of 16.3% in the last 10 years, while international passenger traffic has grown by about 6%.
Saying that India’s civil aviation market is in the take-off phase, he said the country has emerged as the largest buyer of aircraft in the world after the US and China. Its aircraft fleet size has increased from 400 in 2014 to 713 today and is set to cross 2,000 by 2035. The number of commercial pilot licenses awarded has increased from 1,162 in 2022 to approximately 1,650 in 2023.
Pointing out that India has emerged as a shining star in the global civil aviation sector in the last decade, Scindia said the Indian market offers huge growth potential in the coming decades given its very low penetration level.
“Even with achieving 300 million passengers per year, India will still remain one of the least penetrated markets among the top 20 markets in the world. This means that today our penetration is 3-4% and with 300 million it Will increase to 10.-15% but we are still yet to penetrate 85%,” he said after inaugurating the Wing India 2024 aviation industry show in the city.
“Today, India is the third largest domestic civil aviation market in the world, the seventh largest international civil aviation market in the world and if you combine the two, we are the fifth largest civil aviation market in the world,” he said.
Scindia also said that domestic passenger traffic has been growing at an astonishing CAGR of 16.3% in the last 10 years, while international passenger traffic has grown by about 6%.
Saying that India’s civil aviation market is in the take-off phase, he said the country has emerged as the largest buyer of aircraft in the world after the US and China. Its aircraft fleet size has increased from 400 in 2014 to 713 today and is set to cross 2,000 by 2035. The number of commercial pilot licenses awarded has increased from 1,162 in 2022 to approximately 1,650 in 2023.
