The Indian aviation industry has shown continued growth in recent years with key drivers being positive economic factors (including high GDP growth), industrial performance, corporate profitability/expansion, higher disposable incomes and growth in consumer spending as well as wider availability of low fares.
Current scenario:
The current growth rate in domestic and international travel exceeds 25%, the highest in the world. In the period April-September 2006, the total aircraft movements witnessed an increase of 29.6% year-on-year to 494.92 thousand aircraft movements, as compared to 318.89 thousand during April-September 2005.
The Indian domestic market grew at almost 50% in the first half of 2006. On average, full service carriers are shedding a remarkable 1.5% of market share every month to low cost carriers.
-Growth Prospects of Indian Aviation Sector
Future scenario:
The aviation industry is expected to grow at a compounded annual growth rate of 25% till 2010. Also, by 2010 Indian airports will be handling between 90 and 100 million passengers per year, as against the current 34 million passengers. It is expected that nearly 80% of this growth will be driven by the low cost carrier segment (LCC). By 2008, the LCCs would capture 65% of the direct on-line air ticket market from 61% in 2005.
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4:32 PM on February 19, 2009
