India's aviation sector: Powerhouse of growth

India's aviation sector has experienced remarkable growth since the economic reforms of the 1990s. In 2024, it surpassed Brazil and Indonesia to become the third-largest domestic aviation market, following the USA and China.

Current market landscape

The civil aviation industry has been the fastest-growing sector for the last three years. In FY24, domestic passenger traffic in India stood at 306.79 million, marking a 13.5% growth compared to the previous fiscal year. Similarly, international passenger traffic in FY24 reached 69.64 million, reflecting a year-on-year growth of 22.3%.