India is set to overtake UK to become the third largest aviation market in the world by 2025, as reported in a report by International Air Transport Association (IATA). In a previous report, IATA had reported that India would become the largest aviation market in the year 2026, but now it would happen in 2025. The International Air Transport Association (AITA) represents 85% of the global airline traffic.
“The biggest driver of demand will be the Asia-Pacific region. The region will be the source of more than half the new passengers over the next two decades...the UK will fall to fifth place, surpassed by India in 2025, and Indonesia in 2030,” IATA said in the report.
It is projected that by 2036, India will 478 million airline passenger traffic. India’s current traffic is 141 million.
“All indicators lead to growing demand for global connectivity. The world needs to prepare for a doubling of passengers in the next 20 years. It’s fantastic news for innovation and prosperity, which is driven by air links. It is also a huge challenge for governments and industry to ensure we can successfully meet this essential demand,” Alexandre de Juniac, IATA’s director general and chief executive officer, said in the report.
India which currently has 800 planes on order and in the next five years it is set to add 350-400 more aircrafts. All the airlines put together, India has a fleet of 500 aircrafts.