Domestic market share of airlines across India FY 2023, by passengers carried

India’s aviation sector had increasingly emerged as a fast-growing industry. The sector had established itself as an affordable and credible alternative to the tedious and long journeys via road or rail. With a visible growth trend, it was estimated that by 2034, India would become one of the largest aviation markets in the world. As of financial year 2023, the passenger carrier IndiGo was the leader in the segment with around 54.7 percent in the market.

IndiGo - the market leader

The Indian aviation sector handled over 188 million passengers at Indian airports the same year. Jet Airways held the largest market share after IndiGo as of 2018. But the former passenger carrier had suspended operations in April 2019 following financial difficulties, leaving the field open for the latter, with little competition from other players in the market.

A flight for the budget airline market

Indigo airline’s low cost and no-frills approach to domestic flying had been cited as one of the factors leading to its relative success in India. According to the Directorate-General of Civil Aviation, IndiGo airline carried over 46.6 million passengers during the fiscal year 2022. It ranked fourth among the country’s most punctual airlines with almost 84 percent on-time arrivals. As a carrier that also had the least complaints from the customer, IndiGo’s popularity with the domestic base was high, soaring towards growth in the years to come.