New Delhi (Rajeev Sharma): India has surpassed China to become the world’s fastest-growing private jet market, marking a significant shift in the Asia Pacific aviation sector. Between 2021 and 2024, India’s private jet fleet expanded by nearly 25%, while China’s fleet contracted by over 30% during the same period. while China saw a drop of nearly one-third. Today, India operates more than 490 private aircraft, a figure expected to cross 700 by 2029.
Industry experts attribute India’s growth to several key factors, including robust economic expansion and rapid economic growth, which have led to an increase in high-net-worth individuals and corporate executives seeking private air travel. Infrastructure development, including investments in airports and aviation services, has enhanced the accessibility and convenience of private flying. Government policies streamlining business aviation regulations have fostered new investments and fleet expansion.
Although China remains the largest private jet market in Asia, its decline is attributed to economic slowdowns, anti-corruption measures, and shifting residency patterns of affluent individuals. India’s ascendance reflects a broader regional shift in business aviation, underscoring the country’s growing significance as a hub for corporate travel. Experts predict that India’s private jet market will continue to exhibit rapid growth over the next decade, driven by corporate demand, luxury travel, and expanding infrastructure across key cities.
