Ten years ago, India was the smallest market with around 8 million seats, followed by Indonesia in fourth place and Brazil in third, with the United States and China occupying the top two positions.
Today, the United States and China remain the largest domestic aviation markets.
"However, India is overtaking the domestic markets of Brazil and Indonesia to become the third largest domestic market with an air capacity of 15.6 million seats by April 2024," according to OAG data.
India's seating capacity growth rate on a 10-year average is the highest, growing at 6.9 percent annually.
"India is the fastest growing market in the five domestic markets we consider. China followed closely with 6.3 percent annual growth between 2014 and 2024, and there is a much lower growth rate in the United States and Indonesia ", according to data. .
According to the OAG report, another interesting metric to consider in these large domestic markets is the capacity share of low-cost airlines (LCC).
As of April 2024, low-cost airlines accounted for 78.4 percent of domestic airline capacity in India, the highest low-cost airline share of any of these five domestic markets.
"In the last 10 years, IndiGo has almost doubled its market share, from 32 percent of its capacity in 2014 to 62 percent today. While the rest of the market has barely grown, averaging just 0.7 percent annually, IndiGo has a domestic capacity growth rate of 13.9 percent annually," the report mentioned.
The country has seen robust growth under Prime Minister Narendra Modi's government, paving the way to shape the future of the aviation industry over the next 25 years.
On November 19 last year, Indian airlines carried 4,56,910 domestic passengers. This was the highest single-day air traffic since the pandemic began, marking a notable 7.4 per cent increase above pre-Covid averages, according to data from the Ministry of Civil Aviation.
According to the government, the number of airports in the country has increased from 74 to 157 in the last 10 years.
More than 91 lakh passengers used the Digi Yatra facilities and more than 35 lakh users downloaded the app in 2023.
Today, the United States and China remain the largest domestic aviation markets.
"However, India is overtaking the domestic markets of Brazil and Indonesia to become the third largest domestic market with an air capacity of 15.6 million seats by April 2024," according to OAG data.
India's seating capacity growth rate on a 10-year average is the highest, growing at 6.9 percent annually.
"India is the fastest growing market in the five domestic markets we consider. China followed closely with 6.3 percent annual growth between 2014 and 2024, and there is a much lower growth rate in the United States and Indonesia ", according to data. .
According to the OAG report, another interesting metric to consider in these large domestic markets is the capacity share of low-cost airlines (LCC).
As of April 2024, low-cost airlines accounted for 78.4 percent of domestic airline capacity in India, the highest low-cost airline share of any of these five domestic markets.
"In the last 10 years, IndiGo has almost doubled its market share, from 32 percent of its capacity in 2014 to 62 percent today. While the rest of the market has barely grown, averaging just 0.7 percent annually, IndiGo has a domestic capacity growth rate of 13.9 percent annually," the report mentioned.
The country has seen robust growth under Prime Minister Narendra Modi's government, paving the way to shape the future of the aviation industry over the next 25 years.
On November 19 last year, Indian airlines carried 4,56,910 domestic passengers. This was the highest single-day air traffic since the pandemic began, marking a notable 7.4 per cent increase above pre-Covid averages, according to data from the Ministry of Civil Aviation.
According to the government, the number of airports in the country has increased from 74 to 157 in the last 10 years.
More than 91 lakh passengers used the Digi Yatra facilities and more than 35 lakh users downloaded the app in 2023.
