June 26,2024
India has become the third-largest domestic airline market globally, up from fifth position 10 years ago. Thanks to robust growth in the aviation sector. The country’s capacity growth rate of seats over a 10-year average is the highest, at 6.9% annually.
India is the fastest-growing market across all five domestic markets, with China following closely behind with an annual growth rate of 6.3% between 2014 and 2024. Low-cost carriers (LCCs) account for 78.4% of domestic airline capacity in India, the highest LCC share of any of these five domestic markets.
IndiGo has almost doubled its market share in the last decade, with a domestic capacity growth rate of 13.9% annually. India’s robust growth under Prime Minister Narendra Modi has paved the way for shaping the future of the aviation industry for the next 25 years. In November 2021, India flew 4,56,910 domestic passengers. However, India is surpassing the Brazilian and Indonesian domestic markets to become the third-largest domestic market with an airline capacity of 15.6 million seats in April 2024,” according to OAG data.
According to the OAG report, another interesting metric to consider across these large domestic markets is low-cost carrier (LCC) capacity share. In April 2024, LCCs accounted for 78.4 percent of domestic airline capacity in India, the highest LCC share of any of these five domestic markets.
The number of Airports in the country has increased to 157 from 74 in the last 10 years. INDIAN AVIATION GROWING VERY FAST AND DOUBLE FAST
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