India secures third spot in the Global Domestic Airline Market
In a recent update, India has secured third spot in the Global Domestic Airline Market. The country has undergone a massive positive transformation in the past decade in the domestic aviation sector. In April 2024, India moved up from fifth place 10 years ago. This significant achievement reflects a great growth and strategic advancements spearheaded under Prime Minister Narendra Modi’s leadership.
India’s aviation sector has shown unparalleled growth, boasting the highest average annual growth rate in airline seat capacity globally at 6.9% over the past decade. As of April 2024, the country supports approximately 15.6 million domestic airline seats, surpassing Brazil and Indonesia in capacity.
Key to this growth has been the dominance of low-cost carriers (LCCs), which now control a substantial 78.4% share of the domestic airline market. IndiGo, India’s largest airline, has been pivotal in this narrative, doubling its market share to 62% with an impressive annual capacity growth rate of 13.9% over the same period.
India’s aviation infrastructure has undergone a monumental expansion, with the number of airports more than doubling from 74 to 157 in the last decade. This infrastructure surge has been instrumental in accommodating the escalating domestic passenger traffic, evident from record-breaking single-day figures post-pandemic.
When compared globally, India’s aviation growth trajectory stands out amidst formidable challenges. While the United States and China maintain their positions as the largest domestic aviation markets with significantly higher seat capacities (approximately 84 million and 65 million respectively in November 2023), India’s consistent growth underscores its emerging influence in shaping the global aviation landscape.
Indira Gandhi International Airport (DEL) in Delhi serves as India’s busiest airport, anchoring the country’s expanding air travel network. Despite challenges, including the impact of the pandemic, India’s domestic aviation sector has demonstrated resilience, with a modest seat capacity increase of 0.5% in November 2023 compared to November 2019 levels.
In the future, India’s building aviation sector not only reflects its economic vitality but also positions the country as a pivotal player in the future of global air travel. With continued investments in infrastructure, technology, and regulatory reforms, India is poised to sustain its trajectory as a leading force in the world’s aviation industry for years to come.
Originally Published at TIMESOFINDIA
