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India’s Aviation Sector sees promising growth in 2024, despite challenges

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The “Assessment of India’s Aviation Sector 2024” report reveals a burgeoning industry, marked by rapid innovation and evolving market dynamics, amidst challenges.

The “Assessment of India’s Aviation Sector 2024” report has been added to ResearchAndMarkets.com‘s offering.

The report aims to understand the current landscape and prospects of this rapidly evolving industry. The report contains market statistics, recent trends and drivers, along with opportunities and challenges. The report includes up-to-date insights and perspectives from leading experts in the industry.

As we embark on the year 2024, the aviation sector stands at a pivotal juncture, marked by rapid innovation and evolving market dynamics. Globally, the industry is rebounding from the unprecedented impacts of the COVID-19 pandemic, propelled by robust demand, technological advancements, and renewed consumer confidence. This year is set to witness significant growth in air travel in passenger segments, as airlines expand their networks and modernize fleets to meet the surging demand.

Environmental sustainability has become a central theme, driving the adoption of more fuel-efficient aircraft and the exploration of alternative fuels. Additionally, digital transformation is reshaping customer experience and operational efficiency, with advancements in AI, IoT, and data analytics playing key roles. The year 2024 also sees a heightened focus on enhancing connectivity in emerging markets, signaling a more inclusive and expansive growth trajectory for the global aviation industry.

The year 2023 was a year of mixed experiences for the Indian aviation industry. While there were notable accomplishments, including a significant rise in passenger traffic and substantial aircraft orders from leading airlines such as IndiGo and Air India, the sector also faced its share of challenges. Notably, GoFirst, supported by the Wadia group, encountered engine issues leading to grounding, IndiGo faced similar technical difficulties, SpiceJet grappled with financial and legal obstacles, and the fledgling Akasa Air dealt with pilot-related concerns.

By November 2023, IndiGo held the dominant position in India’s aviation market in terms of passenger numbers, with a market share of 61.8%. Throughout 2023, IndiGo transported 56.2% of India’s air travelers, whereas Air India accounted for 25.1%. Indian airlines collectively maintained a 44.3% market share for international flights during April-September 2023, a notable increase from 35.4% in 2019.

Key Topics Covered:

Indian Aviation Sector

  1. Overview
  2. Market Performance & Statistics (2020, 2021, 2022, 2023)
  3. COVID-19 Impact
  4. Union Budget 2020 – Key Points
  5. Union Budget 2021 – Key Points
  6. Union Budget 2022 – Key Points
  7. Union Budget 2023 – Key Points
  8. Interim Budget 2024 – Key Points
  9. Trends & Drivers
  10. Industry Leader’s Opinion
  11. Outlook
  12. Competitive Landscape
    1. IndiGo
    2. Jet Airways
    3. GoAir
    4. SpiceJet
    5. Air India

List of Figures

  1. India Number of Passengers Handled at Airports, by Type (FY 2014-FY 2023, in millions)
  2. Aircraft Fleet of Air India Ltd. (FY 2015 to 2022, No of Aircrafts)
  3. India’s Busiest Airports Based on Aircraft Movements (FY 2021, in 1,000s)
  4. India’s Busiest Airports Based on Aircraft Movements (FY 2020, in 1,000s)
  5. India’s Busiest Airports Based on Aircraft Movements (FY 2022, in 1,000s)
  6. India’s Total Aviation Passenger Traffic (FY14-FY20, Millions)
  7. India’s Market Share of Passengers Carried in DResearchAndMarketomestic Airlines (%, FY 2020)
  8. India’s Number of Operational Airports (June 2020, by Type)
  9. India’s Market Share of Airlines, by Passengers Carried (%, FY 2019)
  10. India’s Market Share of Airlines, by Passengers Carried (%, FY 2022)
  11. India’s Leading Airports, based on Number of International Passengers Handled (FY 2019, Millions)
  12. India’s Market Share of Passengers Carried in Domestic Airlines (FY 2018, %)
  13. India’s Busiest Airports, based on Number of Aircraft Movements (FY 2016-17, in 1,000s)
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George, in his capacity as an intern, diligently oversees the flow of news, assists in the publication of content, and delves into the strategies of social media distribution. He is currently pursuing his studies in Business Administration at the Athens University of Economics and Business.

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