India's Aviation Market: A Skyrocketing Success Story

India is one of the fastest-developing economies in the world and is now home to the third-biggest domestic aviation market, surpassed only by the US and China. With a steady growth in GDP and significant investments in infrastructure development and fleet expansion, India's aviation market is expected to skyrocket in the next decade.?

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Boeing India President Salil Gupte said, "The airline sector in India is the fastest-growing airline sector anywhere in the world. It has grown by roughly 6.97 per cent over the last number of years. It'll continue to grow at that level because it tends to grow along with GDP growth. And India has the fastest GDP growth and the strongest economy of any major nation in the world. So the airline sector will continue to boom over the next few years." (as reported by ANI News)?

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In recent years, India has been at the centre of some of the largest aircraft deals, with Air India finalising one of the most significant aircraft orders in aviation history to triple its fleet size and IndiGo's massive order with Airbus, making it the world's largest operator of the type for years to come. ?

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Moreover, India's aviation infrastructure growth is aided by UDAN- Ude Desh Ka Aam Nagrik scheme (Hindi for "Let the common citizens of the country fly") to upgrade underserviced air routes and make air travel affordable for citizens of the country, no matter where they reside. The 5th round of the Regional Connectivity Scheme UDAN aims to enhance and achieve last-mile connectivity to remote and regional areas of the country.?

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India's domestic passenger numbers have doubled in the last few years, with 140 million just before the pandemic. The demand for domestic air services is currently higher than ever, and aircraft numbers have shot up in recent years to meet the demand. Despite this tremendous progress, the Indian market still has untapped potential as Indians are utilising air travel at a fraction of the rate compared to the US and China. ?

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Brookfield Aviation International has been working with airlines in India since 1995 and applauds India's growth trajectory in the last decade. We continue to support our Indian clients and believe that the Indian aviation industry will continue its exceptional ascent in the years to come.?