In 2023, the actual import value of fixed wing aircraft with an unladen weight exceeding 15,000 kg to India stood at $1.56 billion. Forecasts indicate a steady year-on-year increase: 2024 by 4.3%, 2025 by 4.2%, 2026 by 3.9%, 2027 by 3.7%, and 2028 by 3.5%. Over the five-year period from 2024 to 2028, the compound annual growth rate (CAGR) averaged 3.9%.
Future trends to watch include:
- Increasing demand for air travel in India, potentially driving imports.
- Technological advancements and India's focus on modernizing its fleet.
- Global economic factors impacting the aviation sector.
- Government policies supporting the aviation industry's growth.
