The Indian civil aviation industry is on a high growth trajectory. India has a vision of becoming the third largest aviation market by 2020 and is expected to be the largest by 2030. According to Tony Tyler, Director General and CEO of International Air Transport Association (IATA), “The world is focused on Indian aviation—from manufacturers, tourism boards, airlines, global businesses to individual travelers, shippers and businessmen… If we can find common purpose among all stakeholders in Indian aviation, a bright future is at hand.”
In India, air traffic in terms of aircraft movement and passenger traffic has increased during the last three years. The total aircraft movement and passengers registered a Compound Annual Growth Rate (CAGR) of 3.3% and 5.6%, respectively, during FY2011 to FY2014. During the April-May period of the financial year 2014, aircraft movement and passengers increased by 5% each over traffic handled during the corresponding period of FY2014.
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