INDIA'S CENTURY UNLOCKING THE POTENTIAL OF INDIAN AVIATION
SP’s Aviation|Issue 8, 2023
Witness the renaissance of India’s aviation industry as it takes flight towards a Century of Prosperity unlocking extraordinary opportunities in India’s aviation sector
COLONEL SANJAY JULKA
INDIA'S CENTURY UNLOCKING THE POTENTIAL OF INDIAN AVIATION

THE INDIAN ECONOMY IS EXPERIENCING A REMARKABLE expansion, with a GDP growth rate of 8.7 per cent in FY 2022, placing it among the highest in the world. Bob Sternfels, Global Partner at McKinsey, boldly declared that it is not just India's decade but India's century. As the economy flourishes, the aviation industry closely follows suit. The growth prospects for Indian aviation are staggering, and international investors are taking notice. Despite lingering concerns, India has made significant strides in addressing these issues, paving the way for a prosperous future in civil aviation.

INDIAN AVIATION GROWTH: A GLOBAL STANDOUT

The growth potential of Indian aviation is undeniable, and the numbers speak for themselves. Asian aviation is projected to grow at a compound annual growth rate (CAGR) of 5.1 per cent over the next 20 years, outpacing America's 2.7 per cent and Europe's 2.3 per cent. Specifically, Indian aviation is projected to grow at a CAGR of 6.3 per cent over the next two decades, surpassing the 4.9 per cent growth rate for the rest of Asia.

India's geographical advantage further solidifies its potential as a major aviation hub. With 50 per cent of the world's population residing within a 6-hour flight time and 65 per cent within a 10-hour flight time, India becomes an attractive destination for airlines. Additionally, the country boasts the world's third-largest domestic civil aviation market, further enhancing its appeal.

There has also been an increase in the number of business aircraft. In 2021 and 2022, approximately 90 registration/ deregistration entries were recorded, compared to approximately 40 in 20 and 35 in 2020. The United States has approximately 600 billionaires and more than 10,000 private jets. India has approximately 166 billionaires and around 132 private jets.

This story is from the Issue 8, 2023 edition of SP’s Aviation.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

This story is from the Issue 8, 2023 edition of SP’s Aviation.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

MORE STORIES FROM SP’S AVIATIONView All
"OUR FOCUS AND PRIORITY ARE TO NURTURE THE FRIENDSHIP WITH INDIA WHEN IT COMES TO INTERNATIONAL RELATIONS" - TSHERING TOBGAY, PRIME MINISTER OF BHUTAN
SP’s Aviation

"OUR FOCUS AND PRIORITY ARE TO NURTURE THE FRIENDSHIP WITH INDIA WHEN IT COMES TO INTERNATIONAL RELATIONS" - TSHERING TOBGAY, PRIME MINISTER OF BHUTAN

In a very exclusive interaction, Manish Kumar Jha speaks with Prime Minister Tshering Tobgay in Thimphu, Bhutan over the range of issues which will further reaffirm the historic bilateral relations with India

time-read
5 mins  |
Issue 6, 2024
PUSH AI FOR BETTER SAFETY
SP’s Aviation

PUSH AI FOR BETTER SAFETY

The aviation industry has always prioritised safety above all else and with technological advancements, particularly in artificial intelligence (AI), new horizons for safety enhancements are continually being explored and implemented

time-read
3 mins  |
Issue 6, 2024
SLOW FADE OF THE FOUR-ENGINE AIRLINER
SP’s Aviation

SLOW FADE OF THE FOUR-ENGINE AIRLINER

As long-haul international tourism recovers, some leading carriers have been returning their superjumbos to service. The A380 that seemed destined to fade into the sunset has received a new lease of life.

time-read
6 mins  |
Issue 6, 2024
50 MILLION LEAP
SP’s Aviation

50 MILLION LEAP

The CFM LEAP engine family achieves 50 million flight hours, setting new standards in fuel efficiency, reliability, and sustainability in global aviation

time-read
5 mins  |
Issue 6, 2024
CFM RISE-FULL SPEED AHEAD!
SP’s Aviation

CFM RISE-FULL SPEED AHEAD!

Three years into the programme, it is clear that various RISE technologies are steadily evolving from promising design concepts to functioning components and systems. And the pace of progress is accelerating.

time-read
6 mins  |
Issue 6, 2024
JOURNEY TO THE BEYOND
SP’s Aviation

JOURNEY TO THE BEYOND

Space tourism with its challenges and excitement, currently accessible only to billionaires, holds the potential to expose a wider set of people to the views of earth's horizon and zero-g experiences in the future

time-read
7 mins  |
Issue 6, 2024
HOW THE FUTURE OF UNMANNED MILITARY AIRCRAFT IS UNFOLDING
SP’s Aviation

HOW THE FUTURE OF UNMANNED MILITARY AIRCRAFT IS UNFOLDING

The integration of Tactical AI and machine learning in defence projects is enhancing the performance and portability of high-performance capacities across various military platforms

time-read
4 mins  |
Issue 6, 2024
A SHOWCASE OF THE LATEST TECHNOLOGICAL ADVANCEMENTS IN BIZAV
SP’s Aviation

A SHOWCASE OF THE LATEST TECHNOLOGICAL ADVANCEMENTS IN BIZAV

With the focus on sustainability and innovation, and a display of cutting-edge technological advancements, insightful discussions, and strategic collaborations, EBACE2024 provided a comprehensive glimpse into the future of aviation.

time-read
10+ mins  |
Issue 6, 2024
SUSTAINABILITY-A BIG MILESTONE
SP’s Aviation

SUSTAINABILITY-A BIG MILESTONE

A steely-eyed focus on sustainability is fundamentally altering the way the airline industry operates. But the pace of progress in both SAF and engine enhancement must be greatly accelerated to make net zero a reality

time-read
10 mins  |
Issue 5, 2024
A GROWING & EXPANDING SECTOR
SP’s Aviation

A GROWING & EXPANDING SECTOR

While the space sector is on an upward trajectory with the Indian Space Policy, FDI liberalisation and the recent authorisation guidelines, the success of these initiatives hinges on a clear legal and regulatory framework to support the industry.

time-read
9 mins  |
Issue 5, 2024