India will become the world’s third largest aviation market around 2024 surpassing the UK, according to the global airlines’ body the International Air Transport Association (IATA). It projected total air passenger numbers to touch 8.2 billion in 2037.
The top four markets are predicted to be China, USA, India and Indonesia.
The Asia-Pacific region is projected to drive the biggest growth with more than half the total number of new passengers over the next 20 years coming from these markets.
The India growth is being driven by a combination of continued robust economic growth, improvements in household incomes and favourable population and demographic profiles, it noted.
According to the IATA, China would displace the United States as the world’s largest aviation market in the mid-2020s.
The aviation market is defined in terms of traffic to, from and within a country, as per the grouping.
By taking 3rd place after China and the US, India passes the UK around 2024. Indonesia is forecast to be a standout performer – climbing from the world’s 10th largest aviation market in 2017 to the 4th largest by 2030.
IATA believes a doubling of air passengers in the next 20 years could support 100 million jobs globally.