India’s Aviation Sector Takes Flight: Booming Growth and Opportunities

Civil Aviation Secretary Vumlunmang Vualnam announced that the domestic aircraft fleet is expected to grow to 1,400 planes in five years. He also highlighted opportunities for women in aviation and noted significant growth in airports and passenger numbers. The PLI scheme for drones has been successful, boosting company turnover substantially.

India's aviation sector is poised for significant expansion, predicted Civil Aviation Secretary Vumlunmang Vualnam on Thursday. He detailed plans for the fleet size to increase to 1,400 aircraft within five years, from the current count of around 800. Major airlines such as IndiGo and Air India are leading the charge with substantial new plane orders.

Speaking at the 'Giving Wings to Dreams Awards 2024' in Delhi, Vualnam also pointed out the burgeoning opportunities for women, particularly in the drone segment of aviation. Remarkably, the number of airports has more than doubled over the past decade, now standing at 157, with passenger numbers also doubling to approximately 22 crore.

The Secretary also touched on the successful Rs 120-crore Production Linked Incentive scheme, which has increased beneficiaries' turnover to Rs 1,400 crore. As the original PLI scheme for drones concluded, Vualnam flagged the necessity for a new initiative focused on component manufacturing, highlighting the sector's expanding economic potential.

(With inputs from agencies.)