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Best Aviation Stocks To Buy In India 2024

The aviation sector is one of the fastest-growing markets in India as more and more companies like IndiGo, Air India, Akasa Air, etc are racing towards dominating the country’s aviation market share. As of 2024, India is the world’s third-largest aviation market and is expected to be the second largest by 2040. It is perfect to purchase aviation stocks at this time. 

But which is the best aviation stock to buy in 2024? Let’s go ahead with this blog and learn more about it.

The Boom Of Indian Aviation Industry

Indigo airbus a320 aviation
IndiGo Airbus A320

The Indian aviation industry was not that big before 8–10 years, as the common Indians didn’t have much access to air transport facilities. The number of airports across the country was also very low, with only the major cities having large airports.

But now the situation has changed completely as companies like IndiGo, Air India, Akasa Air, etc. are pouring their resources into the airline market. This is benefiting the common public. Airlines like IndiGo and Air India have also placed large aircraft orders, which means more growth in the aviation sector.

The Indian aviation market is expected to grow from 13.9 billion USD in 2024 to 26.8 billion USD in 2030, with an annual CAGR of 11.8%, as per reports. This shows how well the Indian aviation market is capable of growth and transformation. 

The Indian government has also poured a lot of resources into the growth and development of the aviation sector. Schemes like UDAN (Ude Desh Ka Aam Nagrik) have been able to expand the routes, and air travel has reached the farthest corners of the country.

The number of airports in India has increased from 74 in 2014 to 149 in 2024. This is a sign that people across India are accepting air travel as the new norm for safe and reliable journeys. A lot of new airlines have come into existence, such as Akasa Air, Fly91 and Flybig. 

The private sector as well as the government sector of the Indian aviation market can be given credit for such tremendous growth.

5 Best Aviation Stocks In India

  1. Interglobe Aviation (IndiGo)

IndiGo is the largest airline in India in terms of fleet size, number of passengers carried and market share. IndiGo is the mammoth of the Indian aviation industry, as the management of the airline is top notch. They’re a low cost airline and keep ticket prices the lowest on most of the major international and domestic routes in India. 

IndiGo has a fleet of more than 350 aircraft and has another 500+ planes on order from Airbus. In terms of market share of more than 60% in India. Their stock is listed on BSE and NSE as “Interglobe Aviation”. It is the best aviation stock that you can purchase in 2024.

  1. Global Vectra Helicorp Limited

It is the best helicopter aviation stock that you can purchase in 2024. They have been offering private helicopter services in India for the past 24 years. GVHL provides helicopter services to the offshore oil rigs in the Mumbai High region. 

  1. Spicejet

Spicejet is another popular low cost carrier in India. Popular for their tagline, “Red, Hot, Spicy,”  the airline is among the top 3 budget airlines in India. They have a fleet of Boeing 737s, 737 Max, and Q400s, as well as a cargo fleet known as SpiceJet Cargo. 

They have more than 50 aircraft on orders of the Boeing 737 Max type. The airline is expected to achieve positive growth by the end of 2024. It is a good airline stock to buy this year. 

To Summarise

Airline stocks are pretty good ones to purchase in 2024, as the Indian aviation market is set for booming growth. Indian airlines like IndiGo and Spicejet will be the best airline stocks that you can buy this year. These airlines are set to receive new planes throughout the year.

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FAQs

Why should you invest in Indian aviation stocks in 2024?

The Indian aviation industry is expanding quickly, which makes it a desirable place to invest.

Which Indian airline is the market leader in terms of share?

With a market share of more than 60% in the Indian aviation sector, IndiGo is a wise investment.

What are the chances for Indian stocks in helicopter aviation?

Global Vectra Helicorp Limited presents favorable investment prospects within the helicopter services industry, specifically in the domain of offshore oil rig operations.

In the Indian aviation market, what sets SpiceJet apart?

SpiceJet is a well-known low-cost airline with a varied fleet and competitive pricing, making it a good choice for investors looking for room to grow.

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