Blogs & News
Title: India’s soaring ambitions in aviation
India's aviation industry is soaring to new heights and is set to become one of the world's fastest-growing civil aviation markets. Despite facing challenges from the COVID-19 pandemic, the industry is bouncing back strongly, led by major players like IndiGo, which holds a dominant market share in Indian Aviation. Predictions say that by the end of 2024, India could become the third-largest market for air passengers globally, surpassing the UK.
Indian airlines have recently made record-breaking deals with Airbus and Boeing, showing the industry's robust growth. IndiGo's deal for 500 Airbus A320s and Air India's order for 470 planes, including Boeing 787 Dreamliners and Airbus A350s, highlight India's ambitious plans for modern air travel and have established a new benchmark in civil aviation on the subcontinent. These purchases show that Indian airlines are gearing up for future expansion and are confident in the potential of India's growing aviation market.
Airbus estimates that India will need around 2,210 new aircraft, including both smaller and larger ones, showcasing the increasing demand for air travel in India. This highlights the tremendous opportunities and growth potential in the aviation sector.
IndiGo, India’s premier airline, also ventured into the wide-body aircraft segment with a firm order for 30 Airbus A350-900s, marking a significant step towards its goal of becoming a global aviation player. This move will enable IndiGo to extend its reach and network globally, connecting various Indian cities to destinations worldwide.
Akasa Air's order of 226 Boeing 737 MAX aircraft, valued at approximately $20 billion, solidifies the airline's position as a key player in India's aviation landscape. By gradually integrating these aircraft into its fleet over the next eight years, Akasa is expanding its capacity and laying the groundwork for future growth. This also ensures that while many now consider the Indian aviation market duopolistic, Akasa is standing firm and ready to take the fight to the incumbent market leaders.
Conclusion:
India’s aviation industry aims to lead the world by 2030. While Indian carriers face a challenging path ahead, with other major airlines globally also expanding rapidly, they are driving growth through innovation and capacity expansion, and India's journey to becoming a global aviation hub is well underway.
