General Aviation Fueling India's Growth!

India's aviation sector is experiencing an unprecedented surge, fueled by rapid economic growth, increasing wealth, and expanding aviation infrastructure. As the world's fastest-growing aviation market, India presents immense opportunities in the mobility and travel industry. Part of the larger aviation ecosystem is the lesser-known General Aviation industry, which is also playing a pivotal role as part of the aviation ecosystem. Some of the key stakeholders of the General Aviation Industry are Flying Training Organisations, Drone/EVTOL manufacturers, DAAS (Drone as a Service) providers, and of course, the blue-eyed Charter Operators (Private Aviation).

- MANDEEP SANDHU,

THE GROWTH OF AVIATION IN INDIA

Over the last decade, India's aviation industry has seen extraordinary growth. The number of operational airports has increased from 74 in 2014 to nearly 150 in 2024, with plans to further expand to 350–400 by 2040. Domestic air passenger traffic has more than doubled during this time, driven by substantial fleet expansions by Indian airlines. The overall ecosystem is benefiting from the liberalised initiatives of the government, thus further boosting growth and demand. As any economy grows, so does the wealth. We have seen this in the Western world and now can be seen and felt in India as well. The numbers of HNI's (millionaires, centi-millionaires and billionaires) are on the rise and are further going to multiply given that the wealth creation in India is at an all-time high. The new generation millionaires value time as much as they value money. Thus, we see an upsurge in demand for private charters and aircraft ownership.

RISING WEALTH IN INDIA AND PRIVATE AVIATION

The growth story of India's aviation sector goes beyond the expansion of commercial airlines alone. India today is home to nearly 500 odd private planes and helicopters, a number that is gradually increasing. The demand for private jets has surged since the pandemic. More and more airports are now accessible, new generation entrepreneurs value time, and the fact that private jet travel offers convenience to be back home after completing work in a remote city, thus enhancing productivity and efficiency. An interesting shift in the minds of new-generation HNIs is towards aircraft ownership. Owning an aircraft is no longer considered a taboo in India. Many HNIs are now taking up flying lessons to eventually own and fly a plane.

IMPORTANCE OF CHARTERS