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Aviation Industry in India is one of the fastest growing aviation industries in the world. Now days, airlines become a common man's vehicle and revolutionized the way a common Indian traveler used to travel. With the liberalization of the Indian aviation sector, aviation industry in India has undergone a rapid transformation. From being primarily a government-owned industry, the Indian aviation industry is now dominated by privately owned full service airlines and low cost carriers. Private airlines account for around 75 per cent share of the domestic aviation market. The civil aviation industry in India has emerged as one of the fastest growing industries in the country during the last three years. India has become the third largest domestic aviation market in the world and is expected to overtake UK to become the third largest air passenger market by 2024.