Wings India 2022’, Asia’s largest event on civil aviation (commercial, general and business) gets under way in Hyderabad from March 24. The fifth edition of the biennial air show, which will take off at Begumpet Airport, comes at a time when the Indian civil aviation market is among the fastest-growing aviation markets globally and contributes $72 billion to India’s GDP.
The four-day show, organised by the Ministry of Civil Aviation and the Federation of Indian Chambers of Commerce & Industry (FICCI), is happening at a time when the Central government is looking to formulate a plan for the development of indigenous civilian aircraft, helicopters and associated aviation equipment; to promote India as a global hub for the manufacture, design and innovation in aeronautical manufacturing under the 'Make in India' initiative; and to showcase India’s huge potential as a global maintenance, repair and overhaul (MRO) hub.
According to aviation industry pundits, India, despite the COVID-19 pandemic, is well on track to revive its air travel demand. The statistics as made public by the Ministry of Civil Aviation are mind boggling: India with 341.05 million passengers in the financial year ending 2020 had the third largest domestic air passenger traffic market, a market that grew at a compound annual growth rate (CAGR) of 11.13 per cent during the financial years 2016-20.
India, which currently has 153 operational airports, envisages increasing the number of airports to 190-200 by 2040. Over the past three years, work has been initiated to provide scheduled connectivity to 97 unserved/underserved airports, 31 helipads and 10 water aerodromes.
Freight traffic has also seen a growth of CAGR 5.32 per cent between 2016 and 2020, growing from 2.70 million tonnes to 3.33 million tonnes. The Ministry estimates that freight traffic will grow at a CAGR of 7.27 per cent to reach 4.14 million tonnes by March 2023.
Wings India 2022 will provide an ideal platform, catering to the rapidly changing dynamics of the aviation sector, focusing on new business acquisition, investments, policy formation and regional connectivity. Wings India 2022 will also provide the much-desired fillip to the aviation sector, post the pandemic. The airshow’s various restructured, common vantage and focussed forums will serve as catalysts in connecting buyers, sellers, and investors.
Jyotiraditya M. Scindia, Minister of Civil Aviation, said: "Wings India 2022 epitomises the Government of India’s commitment to transform India into the world’s top civil aviation hub. Wings India will serve to synchronise policy formation and address concerns of the stakeholders in the civil aviation sector. Hence, it will consequentially bring unprecedented investment and business acquisition opportunities, thereby creating millions of jobs for those looking to enter this industry. Our new Helicopter Policy, Drone Policy, MRO Policy and Flying Training Organisation Policy stand as testimony towards our commitment to streamlining and promoting the entry of Indian industry into opportunities that the civil aviation sector has to offer."