India's Civil Aviation Minister, Jyotiraditya Scindia, anticipates a surge in domestic air passenger traffic, reaching 300 million by 2030. Speaking at Wings India 2024 in Hyderabad, Scindia noted that despite the growth, India will still be one of the most under-penetrated markets among the top 20 globally.
Highlighting the sector's progress, he mentioned that domestic passenger traffic expanded from 60 million in 2014 to 145 million pre-Covid, further reaching 153 million in 2023. Despite the projected 300 million by 2030, India's market penetration is currently at 3-4%, expected to rise to 10-15%, leaving 85% room for growth.
Scindia outlined the government's efforts to prepare for this potential growth by enhancing capacities, removing bottlenecks, and simplifying procedures. The goal is to ensure the aviation sector can support a 20 trillion-dollar economy by 2047.
Pre-Covid daily passenger traffic stood at 400,425 and increased to 467,000 in November-December 2023. Over the last decade, domestic passenger traffic grew at a CAGR of 15.3%, while international traffic grew at 6.1%. India is the third-largest domestic civil aviation market and the seventh-largest international market, making it the fifth-largest civil aviation market globally when combined.
Scindia expressed confidence that India's aircraft fleet would rise from 713 to over 2,000 in the next decade. During the past 10 years, India added 74 airports, waterdromes, and heliports, with plans to exceed 200 by 2030.
While emphasizing the connectivity of tier II and tier III cities, Scindia highlighted the growth in throughput capability in six metros from 221 million passengers in 2021 to an anticipated 420 million in the next four years. This growth will be facilitated by two new greenfield airports at Navi Mumbai and Jewar near Delhi.
Scindia inaugurated Wings India 2024, Asia's largest civil aviation event, with Minister of State for Civil Aviation V. K. Singh and addressed the significance of the aviation sector's development in the country.
(With Agency Inputs)
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