Indian Economy News

India’s domestic aviation market is now third largest globally

  • IBEF
  • June 28, 2024

India has recently surpassed Brazil and Indonesia to become the third-largest domestic aviation market globally, according to data from the aviation analytics firm OAG. The country's two leading airlines, IndiGo and Air India, have over 1,000 aircraft on order combined, and they account for 9 out of 10 domestic airline seats in India.

While the United States and China remain the top two largest aviation markets worldwide, India's domestic aviation sector is experiencing significant growth. The country's domestic airline capacity has seen an impressive annual growth rate of 6.9%, the fastest in the world. Additionally, low-cost carriers comprise 78.4% of India's domestic airline capacity, the highest percentage among the top five domestic aviation markets. These statistics highlight India's rapidly expanding and evolving aviation industry, which is poised to continue its impressive trajectory in the coming years.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.