India's domestic airline market is now ranked third globally.

Over the past decade, India has experienced a remarkable surge in the aviation sector, propelling it to the third-largest domestic airline market in the world. This impressive growth has catapulted the country from its previous position as the smallest market to now surpassing Brazil and Indonesia. The United States and China still hold the top two spots, but India is quickly closing in and expected to take the third spot by April 2024, according to data from OAG.

In fact, India's growth rate of airline seats over the past 10 years is the highest among all five major domestic markets, with an annual increase of 6.9 percent. This outpaces China, which comes in close behind at 6.3 percent, and the US and Indonesia with much lower growth rates. This information, gathered by OAG, also highlights the significant role of low-cost carriers (LCCs) in the Indian market.

In April 2024, LCCs are expected to make up a whopping 78.4 percent of domestic airline capacity in India, the highest among the five major markets. IndiGo, in particular, has seen a significant increase in market share over the past decade, nearly doubling from 32 percent in 2014 to 62 percent today. This growth far surpasses the rest of the market, which has only grown by an average of 0.7 percent annually. This is a testament to IndiGo's impressive domestic capacity growth rate of 13.9 percent per year.

Under the leadership of Prime Minister Narendra Modi, India has seen tremendous progress in the aviation industry. This sets the stage for continued growth and development over the next 25 years. In fact, on November 19 last year, domestic air traffic in India reached its highest level since the pandemic began, with over 4,50,000 passengers flying in a single day. This represents a remarkable 7.4 percent increase above pre-Covid averages, as reported by the Civil Aviation Ministry.

The government has also made significant strides in expanding airport infrastructure, with the number of airports in the country increasing from 74 to 157 in just 10 years. This has led to improved connectivity and convenience for travelers, contributing to the growth of the aviation industry. Additionally, the Digi Yatra initiative, which offers a digital platform for a seamless travel experience, has been widely embraced by over 91 lakh passengers in 2023 alone, with over 35 lakh users downloading the app.

Overall, India's aviation industry has seen tremendous growth and progress in the past decade, with the potential for even more expansion in the future. With strong leadership and continuous efforts to improve infrastructure and technology, the country is well on its way to shaping the future of the aviation industry for years to come.

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