India has emerged as the world’s fastest-growing private jet market, with its business jet fleet expanding at a rate nearly twice that of China’s, according to recent industry reports. The surge is being driven by a confluence of a booming economy, a burgeoning class of high-net-worth individuals, and a strategic focus on improving aviation infrastructure.
According to a report by Asian Sky Group, India’s business jet fleet saw a remarkable growth rate of 12% in 2024, adding 18 new aircraft and bringing its total fleet to 168. This places India’s growth rate significantly higher than China’s, which recorded a decline of 6.0% in its fleet over the same period. The report by Mordor Intelligence corroborates this trend, projecting that India’s business jet sector will grow at an annual rate of approximately 11% between 2024 and 2029, making it the fastest-growing market in the Asia-Pacific region.
Industry experts attribute this rapid expansion to several key factors:
- Economic Prosperity: India’s robust economic growth has led to a significant increase in the number of billionaires and ultra-rich individuals who are now opting for the convenience, privacy, and time efficiency of private air travel.
- Business Demands: As Indian businesses expand their operations both domestically and globally, executives require swift and flexible travel options to reach destinations not well-served by commercial airlines.
- Infrastructure Improvements: The government’s push to build 100 new airports in smaller cities by 2030 and the development of dedicated private jet terminals at major airports have made private travel more accessible and user-friendly.
The increasing demand has also caught the attention of major global manufacturers like Gulfstream, Bombardier, and Embraer, who are now focusing on the Indian market. The rising interest in long-range jets, capable of non-stop intercontinental flights, further signals the growing global ambitions of India’s corporate elite.
