India’s civil aviation industry is on a high-growth trajectory. India is likely to become the third-largest aviation market in the world by 2020 and the largest by 2030. Low-cost carriers (LCCs), modern airports, Foreign Direct Investment (FDI) in domestic airlines, advanced information technology (IT) interventions and growing emphasis on regional connectivity have spurred the Indian aviation revolution. India is the ninth-largest civil aviation market in the world, with a market size of around US$ 16 billion.
Passenger traffic during the January-December 2015 increased at a rate of 20.3 per cent to 81.1 million from 67.4 million in the corresponding period a year ago.
Indian domestic air traffic is expected to cross 100 million passengers by FY 2017, compared to 81 million passengers in 2015, as per the Centre for Asia Pacific Aviation (CAPA).
India is among the five fastest-growing aviation markets globally with 275 million new passengers The airlines operating in India are projected to record a collective operating profit of Rs 8,100 crore (US$ 1.29 billion) in fiscal year 2016, according to Crisil Ltd.
According to data released by the Department of Industrial Policy and Promotion (DIPP), FDI inflows in air transport (including air freight) between April 2000 and December 2015 stood at US$ 612.53 million.
Total passenger traffic stood at a 106.45 million in FY 2016
Passenger traffic increased by 12.47 per cent in FY 2015.
Passenger traffic expanded at a CAGR of 3.8 per cent over FY 2006–16*.