Page 43 - The Insurance Times August 2022

A STUDY ON

INSURANCE

SYSTEM OF

AVIATION

SECTOR IN INDIA

Introduction: The Indian Aviation
Industry and The Aviation Insurance
The aviation industry consists of almost all aspects of air
travel and the activities that help to facilitate it. It includes
the entire airline industry, aircraft manufacturing, research
companies, military aviation, flight operations, air traffic and
much more.

India is the 7th largest civil aviation market in the world and
is set to become 3rd largest by 2025. The industry has grown
significantly over the last two decades and even after
getting hit by the pandemic the industry promises to bounce Domestic and International passengers
back to its normal by 2023 end. There are seven scheduled
ferried in the last 6 years by Indian
airlines, four regional airlines and three cargo airlines in
Airlines
India with a more than two dozen charter airlines owning
small business jets in their fleet. These airlines have 722
Fiscal Year Domestic International
aircrafts of all types- narrow and wide body.
FY16 168.89 54.72
FY17 205.68 59.29
About the author
FY18 243.28 65.48
Atul Sinha FY19 275.22 69.48
Management Trainee, Business Process,
FY20 274.5 66.54
Go Digit General Insurance,
Bangalore - India FY21 105.25 10.13

The Insurance Times, August 2022 43