Minister of Union Civil Aviation Jyotiraditya Scindia predicts that India's domestic air travel market will experience an unprecedented boom, with passenger numbers expected to double from the current 153 million to 300 million by 2030. At Wings India 2024, a civil aviation conclave and exhibition held in Hyderabad, the minister made this prediction during its inaugural session.
Scindia also unveiled a bold plan to develop the country's aviation network, with over 200 airports and waterports planned to replace the current 149. India's aviation penetration, which is anticipated to be between 10 and 15 percent by 2030, is anticipated to be greatly increased by this expansion. This suggests that there is still a lot of room for growth in the market.
In India, the minister pointed out, domestic air travel has grown at a compound annual growth rate (CAGR) of fifteen percent over the last ten years, while international travel has grown at a CAGR of six percent. Many government initiatives and the rising disposable income of the nation's expanding middle class are to blame for the sharp increase in domestic air travel.
On the other hand, there are unique difficulties associated with the surge in demand for air travel. Owing to capacity issues, airlines such as Go First, IndiGo, Air India, and SpiceJet have grounded about 160 aircraft until December 2023. The significant made by the Indian government in airport infrastructure is an essential step in addressing potential capacity issues and meeting the country's rapidly increasing demand.
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