Indian Aviation Enters 'Golden Period' With Expansion Of Airlines' Fleet, New Airports

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With new airports being inaugurated at a fast pace and airlines placing orders for planes in the hundreds, India is set to be a global aviation hub. The Indian aviation industry and reliable industry players are set to grow in size and repute. The air passenger volume of a country can be seen as an unofficial marker of the health of its economy and a reflection of its citizens` purchasing power. More travellers can indicate a stronger economy. Thanks to India`s strong economic foundation and policies, her aviation story, which began slowly, has now taken off and is flying at the highest altitude.

In a historic deal, Tata Sons-led Air India placed a massive order of 470 Boeing and Airbus aircraft last month to meet the sudden surge in the aviation demand of the country.

The deal, worth around USD 100 billion, comprises the purchase of a wide range of aircraft that will cater to the needs of passengers across the economic ladder and of travelers around the world. These deals with Boeing and Airspace were two of the biggest civil aviation deals the world has witnessed to date.

While commenting on the Air India and Boeing deal, US Department of State Spokesperson Ned Price said, "It is an opportunity not only for the American economy and for workers here in this country, but it`s an opportunity for Indian people as well, an opportunity to deepen a profoundly intertwined relationship based on shared interest, based on shared values, based on deep economic ties and with the announcement between India and Boeing yesterday those ties are all the deeper."

India is one of the most promising aviation markets in the world. After a brief pandemic-induced lull in her aviation activity in 2020 and 2021, India resurged strongly in 2022, with a 47 percent rise in air passenger traffic, totaling approximately 123 million people.

Market and consumer data specialist `Statista,` recorded that 22 million international passengers touched down at Indian airports in the Financial Year 2022. India has around 400 airports and airstrips, of which 153 will be operational by the end of 2022. The Indian aviation sector is projected to tread parallel to Indian economic growth in general, which is well placed to grow fastest amongst the major global economies in the next decade.

The government`s proactive measures, such as capping airfares, coupled with a rapid expansion in budget airlines` fleets and a consistently growing middle-income group in India, have contributed significantly to the success of the Indian aviation sector.

India is also home to one of the most affordable air markets in the world. These are some of the reasons that many experts worldwide believe that Indian carriers can not only become a challenger to middle eastern carrier hegemony but can also surpass them to become the most preferred air carriers globally.

IndiGo, the biggest domestic air carrier, flies nearly 1,800 flights daily and isis also set to expand its fleet size. As many as 500 aircraft are on order and will join the IndiGo fleet soon. ANI quotes, percent Head of International Sales, IndiGo, Vinay Malhotra, "We are currently flying a little over 300 aircraft, and we have a whopping 500 more on order. Currently, we are flying 1,800 flights a day, and 10 percent of these flights are for international routes. Our current international flights are concentrated around the Indian sub-continent and other countries. The farthest that we are flying is to Istanbul in Turkey.

"Global aviation advisory and research organization CAPA, after it analyzed Indian aviation trends, projected a sharp uptick in India`s international air passenger volume, which could reach around 115 million to 125 million by 2029-2030.The domestic market is also projected to increase multifold shortly. The government`s UDAN, or Ude Desh ka Aam Nagrik scheme, has proven highly successful in attracting and adding the country`s middle class to air transportation. The role of India`s largest carrier, IndiGo, along with other domestic private players like Spicejet, cannot be understated, for they have made air travel accessible and affordable.

On the inauguration of Greenfield International Airport in Goa, Prime Minister Narendra Modi Prime Minister said, "Today India has become the third largest aviation market. The way Udaan Yojna has fulfilled the dreams of flying off the middle class is genuinely a case study topic for the academic world."

India has been working overtime to resume operations at airports that were previously unserved or underserved. The Airports Authority of India has added dozens of airports to India`s domestic air network in less than one decade, which has singularly propelled a significant growth in India`s domestic air travelers. India is also on track to have some of the largest airports in the world in the immediate future. With the initial potential of catering to up to 12 million people annually and the expansion potential of 60 million to 120 million passengers over thirty years, Noida International Airport, in Delhi`s satellite city, is expected to be operational by 2024.

"Number of airports is increasing, and the number of airlines is also going to increase. So our aviation industry which is growing at such a good speed, is a beacon of hope to the entire world," said Airports Authority of India Chairman Sanjiv Kumar.

A remarkable aviation journey, which is poised to grow further, is an indication of India`s general economic health. Per capita income levels have registered significant growth, and a tremendous trajectory is predicted. The entirety of `Brand India` and her individual sectors are booming. Observers say India`s aviation sector will greatly promote her reputation around the world in years to come.