Civil Aviation market in India has emerged as a mammoth industry over last decade. The civil aviation market in India has seen escalations of a statute which would soon put us at the third spot all over the world in terms of the aviation market. India is all set to join the Giants in aviation market by 2020.
This isn’t just any random speculation but India rising to the third spot after USA and China are something that an FICCI study substantiates. Before this forecast, the International Air Transport Industry’s report claimed that India would make it to the third spot by the end of 2026 but looks like we will reach there much sooner.
Civil Aviation market in India is currently the 9th largest market with a worth of 16 billion dollars and by 2020 India might well be the third largest in the world and by 2030 perhaps even the largest. This enormous growth can be credited to the cluster of factors ranging from infrastructure to low-cost carriers.
What has led to these leaps and bounds?
The factors which have come together to elevate India’s stature as a global civil aviation giant include low fares by low-cost carriers like Indigo and Spicejet, expansion in the number of airline carriers in India, modern airports in terms of infrastructure and equipment, foreign direct investments, improved technology etc.
Also in the past few years the rise in foreign passengers flying to and from India has been healthy. The international flyers in the past 2 years have increased by almost 8% while domestic travelers have gone up by 20.5%.
Also Read: Civil Aviation market in India
While around 2005 there were only 4 major airlines including Air India, Indian Airlines, Jet Airways and Air Sahara operated now since 2015 the number of carriers has gone up significantly with the advent of Indigo, Air Asia, Air Vistara, Spicejet Go Air and others. Also, the government’s revised policies for the aviation market have boosted the growth.
All of this blended together has fueled the international flight of the civil aviation market in India.
Who’s the giant of India’s civil aviation market?
No points for guessing here! Given the number of aircrafts Indigo has and the frequency of their flights and to top it all the reasonable prices it had to be Indigo Airlines!
Indigo Airlines alone controls more than 27% market of the civil aviation industry in India and has emerged as the air carrier kingpin. Indigo makes air travel easier and affordable for Indigo has frequent flights for almost every air route. Much of these routes do not have competitors and Indigo enjoys a monopoly here.
Indigo’s rise has benefitted the civil aviation market in India significantly for number of flyers in India has multiplied greatly since Indigo came in as the middle class favorite!