India’s aviation expansion requires $170 billion by 2030: S&P Global

17 Oct 2024 CW Team

India will need over $170 billion in investments by 2030 to support rapid growth in its aviation sector, driven by record aircraft orders and airport infrastructure upgrades, according to a report by S&P Global Ratings.

As one of the fastest-growing aviation markets, India is projected to see domestic passenger traffic double to 300 million by 2030, based on government data. International traffic is also expected to more than double during the same period, according to estimates by aviation research group CAPA India.

To meet surging demand, Indian airlines have placed record orders with Airbus and Boeing, while the government aims to double the number of airports by 2030, establishing India as a global aviation hub alongside Singapore, Dubai, and Doha.

S&P Global Ratings forecasts that Indian carriers will spend $150 billion to finance outstanding orders for 1,700 aircraft. Another $24 billion will be required for airport construction and expansion.

“The timing is favourable for higher borrowing,” S&P analysts noted, highlighting the sector's strong growth outlook, access to cheaper domestic financing, and supportive government policies on foreign ownership, which are expected to enhance funding opportunities for the aviation industry.

(ET)

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