By 2028, the Indian aviation sector is projected to be worth about $100 billion to $135 billion, which is in tune with the dizzying prediction of approximately $3.1 trillion for the global aircraft market as a whole.
There are massive growth projections for the demand for flights to India (also flights from India) and other Asian destinations, with India alone touted to require approximately 1,032 aircraft by 2028. India is expected to add numerous large aircraft like Airbus A380 and Boeing 787 to its fleet. The figures suggest that the rate of travel by air in India is set to be amongst the highest in the world.
In fact, going by further market tips, the next ten years would see India emerging as the fastest growing nation in terms of air travel, with an average annual increase of 12.2% in domestic air traffic.
According to suggestions forwarded by Boeing, India would require 1,000 commercial jets over the next couple of years. From a business perspective, it appears to be a sound advice to invest in the country’s aviation industry as both high end and lower cost carriers would be in the fray to increase their fleets.