According to a recent report by TechSci Research, titled “India Airport Infrastructure Market – By Region, Competition Forecast & Opportunities – 2028,” the Indian airport infrastructure market is poised for robust growth during the forecast period of 2024-2028. This surge in demand for airport infrastructure is driven by the country’s rapidly expanding aviation sector, fueled by rising passenger traffic and the need to accommodate the increasing number of aircraft movements.
Airports play a pivotal role in the economic development of a nation, facilitating the swift movement of people and goods, thereby enabling trade and commerce. India’s civil aviation industry has witnessed remarkable growth, with 91 airlines operating in the country, including 85 foreign airlines. As per the India Brand Equity Foundation (IBEF), India has risen to become the third-largest domestic aviation market in the world, and by 2024, it is predicted to surpass the UK to occupy that position.
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Surging Passenger Traffic and Fleet Expansion
The report highlights that India’s air passenger numbers are estimated to reach a staggering 520 million by 2037, necessitating a significant expansion of the airline fleet. To meet this demand, the country’s airlines are expected to increase their combined fleet size to 1,100 aircraft by 2027. Consequently, the demand for new aircraft in India is projected to reach over 1,750 aircraft by 2037.
This unprecedented growth in passenger traffic and aircraft movements underscores the urgent need for the construction of new aviation infrastructure to accommodate the increased demand. As stated by the Directorate General of Civil Aviation (DGCA), India was the fastest-growing domestic travel market globally in 2018, with 139 million domestic travelers, representing a year-on-year growth of 18.6%.
Government Initiatives and Investments
Recognizing the importance of a robust aviation infrastructure, the Government of India has invested heavily in upgrading the country’s existing facilities and initiating new greenfield and brownfield projects. The country’s 2020 budget allocated USD 1280.04 billion to support its existing aviation infrastructure, while the 2023 budget earmarked USD 1132.49 million for the same purpose. Furthermore, the government has set an ambitious target of building 100 new airports across the country by 2024.
One of the key initiatives undertaken by the government is the Regional Connectivity Scheme (RCS) or UDAN (Ude Desh ka Aam Naagrik), launched in October 2017. This scheme aims to promote affordable air connectivity by allowing airlines to apply for subsidies to operate flights between smaller and larger airports. In December 2019, the government launched the 4th round of RCS, further bolstering its commitment to expanding air connectivity.
Market Segmentation and Growth Opportunities
The India Airport Infrastructure Market is segmented based on various factors such as airport type, ownership, component, application, and region. In terms of airport type, the market is divided into brownfield airports (existing airports undergoing expansion or modernization) and greenfield airports (new airports being constructed).
During the forecast period, greenfield airports are expected to dominate the market, driven by the government’s aggressive push for new airport construction. In 2022, the Indian government announced the construction of 21 greenfield airports, to be established in Goa, Navi Mumbai, and other parts of the country.
Competitive Analysis
The Indian airport infrastructure market is highly competitive, with several major players vying for a share of this lucrative industry. Some of the key players operating in this market include:
- Airport Authority of India
- GMR Airports Infrastructure Ltd
- GVK Power & Infrastructure Limited
- Larsen & Toubro Limited
- Hindustan Aeronautics Ltd.
- VRH Construction Pvt. Ltd.
- Adani Enterprises Ltd
- Blue Dart Aviation Ltd
- Celebi NAS Airport Services India Pvt. Ltd
- Menzies Aviation Bobba (Bangalore) Pvt. Ltd.
These companies are actively involved in various airport infrastructure projects, ranging from construction and expansion to operation and management. They bring diverse expertise and resources to the table, contributing to the overall growth and development of the industry.
Benefits of the Research Report
The TechSci Research report on the India Airport Infrastructure Market offers a comprehensive analysis of the market dynamics, trends, and growth opportunities. By leveraging the insights provided in this report, stakeholders can gain a competitive edge and make informed decisions. Here are some key benefits of the research report:
- In-depth understanding of the market segmentation and growth potential in various segments
- Detailed analysis of government initiatives and investments driving the market growth
- Insights into the competitive landscape and strategies of key players
- Identification of emerging trends and future growth opportunities
- Comprehensive data and forecasts to support strategic planning and investment decisions
The India Airport Infrastructure Market is poised for remarkable growth, driven by the country’s burgeoning aviation sector, increasing passenger traffic, and the government’s ambitious infrastructure development plans. With a strong focus on greenfield airport projects and the expansion of existing facilities, the Indian aviation industry is set to soar to new heights, positioning the country as a global aviation hub. Stakeholders across the industry value chain can leverage the insights provided by the TechSci Research report to capitalize on the growth opportunities and navigate the challenges of this dynamic market.
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“Indian government has been focusing on increasing the number of airports to meet the increasing traffic demand per year. The government is keen to expand and modernize the airport infrastructure. In the year 2014, India had 70 operational airports, but as of 2022, India has 140 airports and they are set to reach 200 by 2030, thus creating opportunities in the India Airport Infrastructure Market”, said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“India Airport Infrastructure Market By Airport Type (Brownfield Airports, Greenfield Airports), By Ownership (Government, Private, Public-Private Partnership), By Component (Ground Support Equipment, Fixed Equipment, Airport Services), By Application (Hangers, Maintenance, Repair & Overhaul Facilities, Terminal, Warehousing, Runways, Others), By Region, Competition Forecast & Opportunities, 2028” has evaluated the future growth potential of India Airport Infrastructure Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in India Airport Infrastructure Market.
Download Free Sample Report – https://www.techsciresearch.com/sample-report.aspx?cid=4223
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