THE MODERN WORLD IS DRIVEN PRIMARILY BY ECONOMY which in turn is dependant on transportation – air, land, and maritime. The UN predicts that by 2050, two-thirds of the world population will be living in the cities (ICAO, 2020). The efficiency of transportation will be the key to this change.
Aviation has been the fastest mode to grow at an exceptional pace. Only in 105 years, the aviation industry has reached the milestone of 100,000 plus commercial flights around the world every day. This growth has been the catalyst to the rapid globalization that we see today.
AVIATION MARKET IN INDIA
India is currently the ninth largest aviation market in the world with a passenger throughput of 344 million as of 2019. More than 85 international airlines operate to India and five Indian carriers connect over 40 countries. This sector contributes 2.4 per cent to the country’s GDP. India is considered to be one of the toughest aviation markets in the world, due to high fuel prices, overcapacity, and intense price competition.
The Ministry of Civil Aviation is the nodal authority responsible for the formulation of national policies and programmers for development and regulation of the Indian civil aviation industry. Its functions also extend to overseeing airport facilities, air traffic services and carriage of passengers and goods by air. The Ministry deals with administrative control over affiliated and autonomous organisations like Directorate General of Civil Aviation, Bureau of Civil Aviation Security and Indira Gandhi National Flight Academy and allied PSUs like National Aviation Company of India Limited, Airports Authority of India and Pawan Hans Helicopters Limited.
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