India Aviation Market Doubles Its Size at High Flying CAGR to Touch USD 26.54 Billion by 2030

Published | 15 November 2024

India Aviation Market is flourishing due to the government’s supportive initiatives, accelerating economic growth, and the thriving middle class.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated India Aviation Market size by value at USD 12.58 billion in 2023. During the forecast period between 2024 and 2030, BlueWeave expects India Aviation Market size to expand at a CAGR of 11.25% reaching a value of USD 26.54 billion by 2030. The Aviation Market in India is propelled by the government’s supportive initiatives like UDAN that boost regional air connectivity. A rapid expansion of airport infrastructure, coupled with a focus on sustainability through carbon-neutral airports and green energy, is fueling growth. The surge in domestic and international air travel, especially from Tier 2 and Tier 3 cities, has solidified India's position as the world's third-largest domestic aviation market. As the sector continues to soar, it is expected to become a global aviation powerhouse.

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Opportunity – Thriving Tourism and Hospitality Sector

The resurgence of tourism across the country is creating robust growth opportunities for the players in India Aviation Market, as both domestic and international travel volumes soar post-pandemic. With domestic air passenger traffic expected to exceed 150 million in FY24, surpassing pre-COVID levels, the tourism sector’s revival is driving the demand for enhanced air connectivity and modernized airport infrastructure across the country. Government initiatives, such as UDAN, Swadesh Darshan, and PRASAD, are pivotal in bolstering tourism while also advancing the aviation sector by increasing accessibility and promoting regional travel. The expansion of operational airports—from 74 in 2014 to 148 in 2023—along with upgraded passenger facilities, underscores the aviation sector's response to growing tourism demands. The rise in air traffic has also spurred growth in non-metro routes, with travelers increasingly choosing air travel for convenience. Social media influence and increased internet penetration further motivate Indians to explore both well-known and emerging destinations, boosting air travel demand. Nevertheless, this rapid growth brings challenges, including infrastructural strain and environmental impact, prompting a shift toward sustainable practices and green tourism initiatives to align with eco-conscious traveler expectations. By addressing these challenges, leveraging government support, and adopting innovative technologies, India’s aviation industry is expected to capitalize on tourism-driven growth, enhancing the overall travel experience and economic impact while positioning India as a premier destination for both domestic and international tourists.

South India Leads India Aviation Market

Bangalore, the heart of South India, holds a significant share of India Aviation Market and is expected to maintain its dominance during the forecast period. Known as the "aviation monopoly capital of India," the city houses major global aerospace companies like Boeing, Airbus, Honeywell, and GE Aviation, along with key research and development centers. Historically, Bangalore has been home to public sector enterprises like NGEF, BEML, and BEL, and is currently the headquarters of Hindustan Aeronautics Limited (HAL). The National Aerospace Laboratories (NAL) is also based in the city. The establishment of a dedicated aerospace special economic zone near Kempegowda International Airport further solidifies Bangalore's position as a global aviation hub. Despite past challenges, Bangalore remains a pivotal location for the country’s aviation market, driving growth and innovations in South India Aviation Market.

Impact of Escalating Geopolitical Tensions on India Aviation Market

India Aviation Market could face significant challenges from intensifying geopolitical tensions across the world. Increased security concerns, potential changes in travel regulations, and disruptions to international flight routes could deter passengers and reduce air traffic, impacting overall growth and profitability of India Aviation Market.

Competitive Landscape

India Aviation Market is fragmented, with numerous players serving the market. The key players dominating India Aviation Market include Air India, Air India Express, Hindustan Aeronautics Limited (HAL), IndiGo, Dassault, SpiceJet, and Lockheed Martin Corporation. The key marketing strategies adopted by the players are facility expansion, product diversification, alliances, collaborations, partnerships, and acquisitions to expand their customer reach and gain a competitive edge in the overall market.

Don’t miss the business opportunity of India Aviation Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The report's in-depth analysis provides information about growth potential, upcoming trends, and India Aviation Market statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in India Aviation Market along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.

Scope of the Report

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