India Airport Infrastructure Market To Be Dominated By Greenfield Airports Segment During The Forecast Period
Rising demand for expansion of airports
and increasing government investment are likely to propel the India Airport Infrastructure
Market during the forecast period, 2024- 2028.
According to
TechSci Research report, “India Airport
Infrastructure Market- By Region,
Competition Forecast & Opportunities – 2028,” the India Airport
Infrastructure Market is anticipated to register a robust growth during the
forecast period, 2024-2028. Airports play an important role in the
economic development of a country, facilitating the rapid movement of people
and goods, thereby facilitating trade and commerce. The number of passengers
and aircraft handled by airports in India is increasing year by year, and the
terminals are becoming congested. Some airports are struggling with current
passenger numbers. Passenger numbers are expected to double over the next 20
years, increasing the need to expand existing airport infrastructure to
accommodate future increases in air traffic.
The Indian civil aviation industry
includes 91 airlines, out of which 85 are foreign airlines. According to 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. India's
air passenger numbers are estimated to reach 520 million in 2037, and the
airline is expected to increase its fleet size to 1,100 by 2027. Therefore,
demand for new aircraft in India is expected to reach over 1,750 aircraft by
2037. Implementation will require the construction of new aviation
infrastructure to accommodate increased passenger traffic and aircraft
movements. According to 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%.
Therefore, to cope with the surge in passenger traffic, the Government of India
has invested heavily in upgrading the country's aviation infrastructure, with
several greenfield and brownfield projects scheduled to be started or completed
during the forecast period.
Browse over XX market data Figures spread through XX Pages and an in-depth TOC on "India Airport Infrastructure Market"
In
December 2019, the government launched the 4th round of Regional Connectivity
Scheme (RCS) or UDAN to promote affordable air connectivity. Originally
launched in October 2017, the RCS allows airlines to apply for subsidies to
operate flights between smaller and larger airports. The country's 2020
budget includes USD1280.04 billion to support its existing aviation
infrastructure while for 2023, aviation budget was USD1132.49 million and
envisions building 100 new airports across the country by 2024. Such
developments are expected to bring the market into attention during the
forecast period.
India Airport
Infrastructure Market is fragmented based on airport type,
ownership, component, application, and region. Based on airport type, the
market is fragmented into brownfield airports and greenfield airports. During
the forecast period, Greenfield Airports is expected to dominate the market. Government
of India has invested heavily in upgrading the country's aviation
infrastructure, with several greenfield airports. In 2022, the Indian
government announced construction of 21 greenfield airports which would be set
up in Goa, Navi Mumbai, and in other parts of India. In December 2019, the
government launched the 4th round of Regional Connectivity Scheme (RCS) or UDAN
to promote affordable air connectivity. Originally launched in October 2017,
the RCS allows airlines to apply for subsidies to operate flights between
smaller and larger airports. The country's 2022-2023 budget includes USD
1280.04 billion to support its existing aviation
infrastructure and envisions building 100 new airports across the country by
2024. Such developments are expected to bring the market to its attention
during the forecast period.
Major
market players operating in the India Airport Infrastructure Market are:
- 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.
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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.
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