India was the fastest growing domestic market in the world in Sep-2011 with 18.4% year-on-year growth. India's domestic aviation market expansion has tripled in the past five years and is now the ninth largest aviation market in the world.
IATA forecasts that the Indian civil aviation market will register a compound annual growth rate (CAGR) of more than 16% during the period 2010-2013. Looking further ahead, the Indian Ministry of Civil Aviation’s Vision 2020 statement envisages a compound annual growth rate of around 15% in the next five years. Investment opportunities of USD120 billion are envisaged up to 2020 with USD80 billion on new aircraft.
Indian domestic market continues to show double-digit growth
