Civil Aviation Policy envisages growth of cargo volumes to 10 mn tonnes by 2027

Posted by Daily Shipping Times on 29-08-2017        Tweet

NEW DELHI: The National Civil Aviation Policy has envisaged growth of cargo volumes to 10 million tonnes by 2027. As per data maintained by the Airports Authority of India (AAI), air freight handled at Indian airports grew by more than 20 times from 0.08 million metric tonnes in 1972-73 to 2.5 million metric tonnes in 2014-15, and its compound annual growth rate (CAGR) was 8.8% during 2013-14 to 2016-17. Measured in million tonne-kilometers, the data maintained by the World Bank also shows that air freight transported by India went up from 96.3 million tonne-kilometers in 1970 to 1,833.8 million tonne-kilometers in 2015.

As per data maintained by the Airports Authority of India (AAI), air freight handled at Indian airports grew by more than 20 times from 0.08 million metric tonnes in 1972-73 to 2.5 million metric tonnes in 2014-15, and its compound annual growth rate (CAGR) was 8.8% during 2013-14 to 2016-17.

Measured in million tonne-kilometers, the data maintained by the World Bank also shows that air freight transported by India went up from 96.3 million tonne-kilometers in 1970 to 1,833.8 million tonne-kilometers in 2015.

India's civil aviation industry is on a high growth trajectory since the time the Civil Aviation industry has ushered in an era of expansion driven by factors such as low-cost carriers (LCCs), upgraded and modernized airports, FDI in domestic airlines, advanced information technology and increased emphasis on regional connectivity. India is the 9th largest civil aviation market in the world, commanding a market size of $16 billion, it is also expected to become the third largest aviation market by 2020.