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Saturday, December 15, 2007
Growing at a rate of 18 per cent annually, the Indian civil aviation market holds out great promise for potential investors into the sector. India's civil aviation ministry expects 80 million passengers by 2020. The number of air travellers increased by a record 38.5 per cent in 2006-7. India anticipates doubling of passenger traffic over the next decade. The second largest aviation industry of the world, the Indian fleet comprised 370 aircrafts by the end of the year. And growth is expected to continue apace: the Government estimates that India’s fleet will reach approximately 500-550 aircraft by the end of 2010. India's civil aviation passenger growth, at 20 per cent, is among the highest in the world. The sector is slated to cruise far ahead of other Asian giants like China or even strong economies like France and Australia. The number of passengers who will be airborne by 2020 is a whopping 400 million. The Centre for Asia Pacific Aviation (CAPA) predicts that domestic traffic will grow at 25 per cent to 30 per cent a year until 2010 and international traffic growth by 15 per cent, taking the overall market to more than 100 million passengers by the end of the decade. Indian carriers have 480 aircraft on order for delivery by 2012, which compares with a fleet size of 310 aircraft operating in the country today. the number of air travellers is about 0.8 per cent of the population. By the time even 10 per cent of the population begins to fly, India will need about 5,000 aircraft.