Indian Aviation: Record Growth and Future Prospects 2024

Indian Aviation Record Growth and Future Prospects 2024

Indian aviation : Record passengers in the first half, capacity expected to cross 23 crore this year, and airlines’ capacity doubled in 10 years

This year, the passenger capacity of Indian airlines is expected to cross 23 crore. This is double the number in 2014. According to market research firm Mordor Intelligence, the Indian airline market will grow by 11% annually between 2024 and 2030. In the first six months of 2024, a record 8 crore people travelled by air. Between 2005 and 2024, the domestic airline industry outpaced the international market by a huge margin in terms of capacity expansion. According to the Official Airline Guide (OAG), in these 19 years, Indian airlines expanded their capacity by 8.7% annually. On the other hand, globally, airlines increase their capacity by only 6% every year. A report by the Netherlands’ ING Bank NV says that India is going to become the powerhouse of the global airline industry. The reason for this will be the increasing desire to travel by flight amid the growing population.

Indian Aviation The largest domestic airline achieved a record profit

Inter Globe Aviation (Indigo), a company with more than 60% share in the domestic airline market, recovered from losses and earned a record profit of Rs 8,172.5 crore in the financial year 2023–24. In 2022–23, the company had incurred a loss of Rs 305.8 crore. During this period, SpiceJet’s loss also reduced from Rs 1,503 crore to Rs 409.5 crore. Other companies are not listed on the stock market.

Air passengers on domestic routes increased by 6% to 1.3 crore in June.

Last month, air passengers on domestic routes increased by 6% to 1.3 crore. According to aviation regulator DGCA, their number was 1.24 crore in June last year. According to data released on Tuesday, a total of 7.93 million passengers travelled by air on domestic routes in the first half of 2024. This is the biggest half-yearly figure so far.

Growth in India is 10%—two and a half times that of the world.


ING Bank believes that in the next 20 years, the airline industry around the world will grow only by 3-4% annually. Currently, its growth is 5–6%. Europe is expected to have the slowest growth, but the growth of the Indian airline industry will remain above 10%.

Orders for 1,200 aircraft in just 16 months are the highest in the world. Air India, Indigo, and Akasa Air have ordered 1,120 aircraft in 16 months, from February 2023 until now. If narrow-body aircraft are included in this, then the total order will exceed 1,200. So many orders have never been given in the world in such a short time. Indian airlines have the scope for the fastest expansion because… • India is the most populous country in the world, but the current capacity of airlines here is 80% less than that of the US and 75% less than that of China. • On average, 1.32 crore people have travelled by air every month in the country so far this year, while about 5 crore people travel by air every month in China.

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