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Speaking at the inaugural session of Wings India 2024, a civil aviation conclave and exhibition here,
With 300 million passengers a year in 2030, India’s aviation penetration would be at 10-15% and still be a potential market in the decades to come. “That is the potential that India holds not only to herself and Asia, but to the world. …even with achieving 300 million domestic passengers 2030, we will still be one of the most under-penetrated markets across the top 20 in the world. Today our penetration is roughly about 3 to 4% that will grow to about 10 to 15%. We still have 85% penetration to go,” he said.
He noted that the domestic air passenger traffic witnessed 15% growth (CAGR) while international air passenger traffic was 6.1%, in the last decade. According to Scindia, India today is the third largest domestic civil aviation market in the world and the seventh largest international civil aviation market in the world. If both domestic and international are combined, then India is the fifth largest civil aviation market in the world.
In the last 15 years, domestic and international cargo witnessed a growth of 60 and 53% respectively. “Our domestic cargo traffic over the last 15 years has grown close to 60% and our international cargo traffic, close to 53%. And it is our considered opinion and that of industry consultants that domestic traffic which was 153 million in the last calendar year, up from 60 million in 2014, will grow to 300 million 2030,” he said.
On the fleet size in the country, Scindia said it has grown from 400 to over 700. “Today, India has become the largest purchaser of aircraft in the world after the US and China. Our fleet size is going to grow from 713 to upwards of 2,000 in the next decade.”
Observing that 74 airports were built in 65 years, he said the government has modernized and built an additional 75 airports, waterdromes and heliports in the last 10 years. “It is our target, that 2030, we will take that number from 149 to upwards of 200 airports, waterports and heliports in our country,” he said.
Scindia also marked the occasion launching the Udan 5.3 scheme.
“This regional connectivity scheme has truly transformed the arena and our sector… today under Udan, infrastructure has been built at 76 airports, waterdromes and heliports. Close to 517 new routes have been operationalised that could not have been dreamt of in the past,” he said.
Union Minister of State for Civil Aviation General (retd) VK Singh and Telangana Roads and Buildings Minister K Venkat Reddy also spoke on the occasion.