Welcome to the dynamic world of aviation, where innovation and progress have propelled it to become one of the safest and most reliable modes of transportation globally. In just over a century, aviation has evolved from the thrill of learning to fly to the marvel of over 100,000 commercial flights occurring worldwide each day, symbolizing an impressive 400 departures per hour.

The sheer volume of air traffic is staggering, with aircraft taking off around the world at a rate of over 400 departures per hour, exclusively accounting for scheduled commercial traffic. Beyond its role as a mode of transportation, air travel serves as a crucial player in the global economy, connecting people and cargo across borders and contributing significantly to social and economic development.

In 2017, airlines worldwide carried a staggering 4.1 billion passengers and transported 56 million tonnes of freight through 37 million commercial flights. This underscores the substantial economic impact of aviation, representing 3.5% of the world's GDP (2.7 trillion USD) and providing employment to 65 million people globally.

Aviation serves as the primary rapid worldwide transportation network, fostering economic growth, job creation, and facilitating international trade and tourism. Recognized by the international community as a vital enabler for achieving the UN Sustainable Development Goals, aviation is poised for a bright future.

Estimates indicate that the demand for air transport will continue to grow at an average rate of 4.3% per annum over the next two decades. By 2036, this growth trajectory could result in the air transport industry contributing 15.5 million direct jobs and $1.5 trillion to the global economy. When factoring in the impacts of global tourism, these numbers could skyrocket to 97.8 million jobs and $5.7 trillion in GDP.

Looking ahead to the mid-2030s, it is projected that no fewer than 200,000 flights per day will take off and land worldwide, reflecting the industry's dynamic and robust nature.

In India, the civil aviation industry has emerged as one of the fastest-growing sectors in the last three years, experiencing remarkable expansion across various segments. The industry encompasses scheduled air transport services (domestic and international), non-scheduled air transport services (charter and air taxi operators), and air cargo services.

Despite the challenges posed by the COVID-19 pandemic, the Indian aviation sector has exhibited resilience. The number of domestic passengers doubled from 60 million in 2014 to 143 million in 2020 before the pandemic hit. International passengers also saw a significant increase, rising from 43 million to 64 million. Aircraft numbers have soared, increasing from around 400 in 2014 to an impressive 723 in 2023, showcasing the industry's robust growth. Currently, India boasts 148 operational airports, including 29 international, 92 domestic, 2 water aerodromes, and 9 heliports. To meet the escalating demand for air travel, there is a pressing need to expand and enhance airport infrastructure.

Recognizing the untapped potential and growth opportunities, the Indian government has played a pivotal role in formulating policies to boost the aviation sector. The UDAN-RCS scheme, aimed at enhancing air connectivity on regional routes by providing affordable and economically viable travel, stands as a testament to this commitment.

With nearly 40% of the population being the upwardly mobile middle class, the aviation industry in India is poised for exponential growth. Despite being largely untapped, the government's strategic interventions and the rise in demand for air travel indicate that India will require 2,380 new commercial airplanes by 2038.

According to a report by RedCore, the travel market in India, valued at approximately US$ 75 billion in FY20, is projected to exceed US$ 125 billion by FY27. As the Indian aviation industry continues to soar to new heights, it presents a compelling narrative of growth, economic contribution, and untapped potential on the horizon.