IATA: India will become world’s third largest aviation market by 2025
The number of operating airports in India is expected to double in the next decade as the government races to meet the growing demand of the country’s aviation market.
India’s Civil Aviation Minister said that as many as 100 new airports would be built in the next 10 to 15 years for about $60 billion. The airports will be constructed through public-private partnership, he explained.
According to the ministry, about 70 of the new airports will be constructed in areas that have no such infrastructure. The remainder will become secondary airports that are intended to deal with a sudden growth in demand for air travel that threatens to overwhelm the present infrastructure. At the moment, the country, which is the world’s fastest growing aviation market, has 100 airports.
Data from the International Air Transport Association (IATA) showed that India’s domestic air demand was highest amongst major aviation markets like Australia, Brazil, China, Japan, Russia, and the US. The country’s domestic passenger traffic grew by almost 18 percent in January.
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In 2017, domestic passenger traffic recorded its 42nd straight month of double-digit growth.
IATA has predicted that by 2025, India will surpass the UK to become the third largest market for aviation in the world, behind China and the US.