History growth and devlopment of aviation industry in india and world
Answers
The civil aviation industry in India has emerged as one of the fastest growing industries in the country during the last three years. India is currently considered the third largest domestic civil aviation market in the world. India is expected to become the world’s largest domestic civil aviation market in the next 10 to 15 years. India is also expected to displace the UK to become the third largest air passenger* market by 2025.
Market Size
India’s passenger* traffic grew at 16.52 per cent year on year to reach 308.75 million. It grew at a CAGR of 12.72 per cent during FY06-FY18.
Domestic passenger traffic grew YoY by 18.28 per cent to reach 243 million in FY18 and is expected to become 293.28 million in FY20E. International passenger grew YoY by 10.43 per cent to reach 65.48 million in FY18 and traffic is expected to become 76 million in FY20E.
In FY18, domestic freight traffic stood at 1,213.06 million tonnes, while international freight traffic was at 2,143.97 million tonnes.
India’s domestic and international aircraft movements grew 14.40 per cent YoY and 9.40 per cent YoY to 1,886.63 thousand and 437.93 thousand during 2017-18, respectively.
During Apr-Aug 2018, passenger* traffic in India stood at 141.77 million. Out of which domestic passenger traffic stood at 113.44 million while international traffic stood at 28.32 million. Total freight traffic handled in India stood at 1.49 million tonnes during the same time.
During Apr-Aug 2018, domestic aircraft movement stood at 0.89 million while international aircraft movement stood at 0.19 million.
As of May 2018, there are nearly 558 commercial aircraft in operation in India.