Future of Aviation Industry
Future of Aviation Industry Introduction Over the last three years, India's civil aviation industry has emerged as one of the country's fastest growing industries. India is widely known as the world's third-largest domestic civil aviation industry. India has become the world's third largest domestic aviation sector, and is expected to overtake UK by 2024 to become the third largest air passenger sector. Market Size · India’s passenger traffic stood at 293.99 million in FY20 (till January 2020) where domestic passenger traffic reached 235.44 million and International passenger reached 58.55 million. · In FY20 (till January 2020) domestic freight traffic stood at 1.14 million tonnes, while international freight traffic was at 1.70 million tonnes. · India’s domestic and international aircraft movements reached 1.82 million and 0.37 million in FY20 (till January 2020), respectively. · To cater to the rising air traffic, t