Between 2013 and 2018, the number of air passengers in India showed consistent growth, achieving a Compound Annual Growth Rate (CAGR) of 16.76% by 2018. In 2019, growth slowed to 2.11%. The COVID-19 pandemic led to a drastic 58.83% reduction in air passengers in 2020. Recovery began in 2021 with a 21.76% increase, and by 2022, the number of passengers nearly restored, showing an 89.43% increase. In 2023, the air passenger count stood at 192.82 million, a 21.23% increase year-on-year. Looking ahead, forecasts predict a 4.33% CAGR from 2024 to 2028, resulting in a 23.63% growth by 2028 to 253.74 million passengers.
Future trends to watch for:
- Impact of economic conditions on air travel demand
- Expansion of low-cost carriers in regional markets
- Infrastructure enhancements like new airports and improved facilities
- Policy changes related to aviation affecting passenger growth
- Technological advancements in passenger experience and aircraft efficiency
