India Becomes World's Fifth Largest Aviation Market

India has emerged as the world's fifthlargest aviation market in 2024, surpassing Japan which handled around 205 million passengers on its way up the rankings.

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India recorded approximately 241 million air passengers last year, placing it behind Spain (approx. 241 m), the UK (261 m), China (741 m), and the US (876 m), but just ahead of Japan.

New data shows that in 2024, the domestic route between Mumbai and Delhi ranked among the busiest airport pairs worldwide, reflecting both strong business connectivity and growing leisure travel demand. The country's passenger traffic growth continues to outpace the global average, supported by a rising middle class, expanded airline networks, and major airport upgrades.

Figures from the International Air Transport Association (IATA) highlight India's upward trajectory, with its air passenger volumes now exceeding those of several mature aviation markets. The expansion has been driven by a combination of factors: sustained economic growth, increasing affordability of air travel, and a surge in regional connectivity fostered by government initiatives such as UDAN, which subsidises flights to underserved airports.

Airline fleets are expanding to meet this demand, with carriers ordering hundreds of narrow-body and wide-body aircraft to serve both domestic and international routes. The most frequently operated aircraft types in 2024 were the Boeing 737 and Airbus A320 LLP, has signed a binding agreement to acquire a 100 per cent stake in Indamer Technics Private Limited (ITPL), a privatesector Maintenance, Repair, and Overhaul (MRO) company.

The investment is made through Horizon Aero Solutions Limited, a 50-50 venture between Adani Defence & Aerospace and Prime Aero, a company owned by Prajay Patel. He is also a director of ITPL, as stated in the company's official release. ITPL has established a state-of-the-art greenfield facility on a 30-acre site in Nagpur, within the MIHAN Special Economic Zone (SEZ).