1、For updated information,please visit www.ibef.orgNovember 2024AVIATION2Executive Summary3Advantage India 4Market Overview 6Recent Trends and Strategies18Growth Drivers23Opportunities 33Key Industry Contacts35Appendix37Table of Contents3Executive summarySource:World Travel and Tourism Council,Airport

2、 Authority of IndiaNote:E-Estimated,F Forecasted,FY25*-Till September 2024 Aviation market ranking as of 2024 3rdlargestAir passenger traffic in FY25(As of Sept 2024)196.91Air passenger traffic in FY24(in million)376.43For 2028,forecasted contribution of travel&tourism to GDPUS$512 billion Expected

3、expenditure of Indian travellers in 2030US$410 billion153.60432.356.3024.4120212028FLeisure TravelBusiness TravelBusiness and Leisure Travel Spending(US$billion)212.80124.00178.00189.00199.0020192020202120222023Travel and Tourism Total Contribution to GDP(US$billion)308.75344.70341.05115.37188.89327

4、.28376.43196.91FY18FY19 FY20 FY21 FY22 FY23 FY24FY25*Air passenger traffic in India(million)4Advantage India5Advantage IndiaADVANTAGE INDIA1432 Rising working group and wideningmiddle-classdemographyisexpected to boost demand.India has envisaged increasing thenumber of operational airports to220 by

5、2025.India will require over 2200 aircraftby 2042.1 Robust demand Growthinaviationaccentuatingdemand for MRO facilities.Expenditure in MRO accounts for12-15%of the total revenue;it is thesecond-highest expense after fuelcost.Union Budget 2024-25 introducesincentives to boost MRO activities inaviatio

6、n,including extending exportand re-import periods for repairs andimplementing a 5%uniform IGST onaircraft parts.In June 2023,the US committed tocreating a global hub for MRO forhigh-end drones in India.4 Opportunities in MRO As per the present FDI Policy,100%FDIispermittedinscheduledAirTransport Ser