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India’s Aviation Industry: Third largest aviation market globally, air passenger traffic has more than doubled

Written by: Team Angel OneUpdated on: Apr 23, 2025, 2:18 PM IST
India’s aviation sector soars with over 350 million passengers, becoming the third-largest market globally. Domestic air travel more than double in 2024.
India’s Aviation Industry: Third largest aviation market globally, air passenger traffic has more than doubled
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India’s domestic aviation market has undergone a remarkable expansion. In 2024, the number of domestic air passengers surged to 22.81 crore, more than doubling the 10.38 crore passengers carried in the 65 years leading up to 2014.

Between January and November 2024, domestic air travel recorded a 5.9% growth compared to the same period in 2023. A landmark moment came on November 17, 2024, when India recorded over 5 lakh domestic passengers in a single day for the first time.

Strong Momentum in International Travel

International routes are also witnessing impressive growth. From January to November 2024, a total of 64.5 million passengers flew on international routes, marking an 11.4% increase from the previous year.

This highlights India’s growing integration with global aviation networks and rising international travel demand from Indian passengers.

India Ascends as a Top Global Aviation Market

With over 350 million passengers annually, India has firmly established itself as the third-largest aviation market globally. This status is a result of consistent double-digit growth, with domestic air traffic increasing by 10–12% per annum over the last decade.

Such growth is not only a testament to the sector’s potential but also reflects rising aspirations, affordability, and connectivity across the nation.

Massive Infrastructure Investment Powers Growth

To support this growth, the government has allocated significant capital towards airport development. Under the National Infrastructure Pipeline (NIP), over ₹91,000 crore has been earmarked for airport infrastructure from FY 2019-20 to FY 2024-25, with ₹82,600 crore already utilised by November 2024.

This strategic investment aims to upgrade existing facilities and construct new ones, ensuring India’s aviation sector remains future-ready.

Operationalisation of Greenfield Airports

Since 2014, 12 Greenfield Airports have become operational from a pool of 21 approved projects. These include airports in Durgapur, Shirdi, Kannur, Kalaburagi, Shivamogga, Kushinagar, Rajkot (Hirasar) and others.

Progress is also well underway at Noida (Jewar) and Navi Mumbai airports, both targeted for operationalisation in the first quarter of FY 2025-26.

Looking ahead, the government plans to develop 50 more airports in the next 5 years and connect 120 new destinations in the next decade, enhancing regional accessibility and economic inclusion.

Read More: India’s Domestic Aviation Growth Hits 11% as IndiGo, Akasa Air Gain Market Share

Conclusion

India’s aviation journey is not just about numbers—it’s a transformative movement. The Ministry of Civil Aviation, through forward-looking policies and strategic investments, is steering the country toward becoming a global aviation hub.

By boosting connectivity, upgrading infrastructure, and enhancing passenger experience, these efforts play a crucial role in national integration and economic development, aligning with the broader goal of Viksit Bharat @2047.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

 

Published on: Apr 23, 2025, 2:18 PM IST

Team Angel One

Team Angel One is a group of experienced financial writers that deliver insightful articles on the stock market, IPO, economy, personal finance, commodities and related categories.

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