India turns out to be The 3rd Largest Aviation Market Globally in Domestic Traffic

Posted on: Jun-2017 | By: QY Research | Aircraft

The aviation industry has witnessed some drastic ups and downs in the past few years. In an attempt to boost the service adoption, various key players have on-boarded several new advanced planes in their fleet, high discounts over domestic trips, and many other similar strategies. 

These strategies seem to be working right now, as India stands third in the listing of the largest aviation market in terms of domestic traffic and it has left behind Japan, a report stated. 

Center for Asia Pacific and Aviation (CAPA) based in Sydney said in a report that India was behind China that has 436 Million domestic air passengers. The first-ranked U.S. commuted 719 Million domestic air passengers in 2016.In addition, India’s domestic air passenger traffic positioned at 100 Million. Japan was left behind with 97 Million domestic passengers.

Throughout 2015–2016 the domestic air traffic has made a steady growth of 20–25% and in starting of this year it went to 25.13%.However, in February 2017, the demand for domestic travel rose by 16% and reached up to 20%. 
As per CAPA, India, when ranked fourth in the ranking of overall air passenger traffic including international and domestic with the U.K., is also closer to become third largest by the next year.

It was anticipated that it would rank in the top rankers in coming 2–3 years but the growing demand and people inclining more on air transport has fostered the growth of the aviation industry in India.

Kapil Kaul, head of CAPA, stated that while India has reached the third position for international and domestic air travel that too before the projected period, it will retain the position for a long time as it will take a long duration to surpass the leading nations such as China and the U.S.

Focusing on the market trend, growing demand for air travel and availability of various alternatives have surged the growth of the global aviation market. Rising spending capacity, increased trips of working professionals for businesses, and a large number of people traveling to meet their relatives on special occasions or family functions on daily basis have motivated the growth of the global aviation market.