With a population larger than China's, but with three times less air traffic, India is in a race against time. The rise of a growing middle class is already underway and the number of very high-income earners is set to grow at a rate unprecedented worldwide. Added to this is the size of the country – which favors domestic flights – and that of the Indian diaspora which generates considerable tourism flows. All this means that air traffic in India should soon rank just behind that of the United States and China.

In recent years, domestic airlines have been placing increasing numbers of orders with Airbus and Boeing. S&P analysts have calculated that a total of 1,700 aircraft should be delivered by the two aircraft manufacturers to Indian customers. Air India, taken over in 2022 by the Tata Group, has even become one of Airbus's top customers. In December 2024, it ordered 100 new aircraft: A350s, A320s and A321s.

Infrastructure needs to follow. From 145 airports today, the sub-continent is set to increase to 220 within five years. New fleets and airports should represent a total investment of $170 billion over this period.

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