The Indian aviation industry handles nearly 3 billion passengers and has over 87 airlines in operation. India is the ninth largest civil aviation market in the world having a potential of becoming bigger by 2020 as the sector has been mushrooming at a constant pace. With this high growth trajectory, India aims to become the third-largest aviation market by 2020 and the largest in another decade. 43% of all new aircraft deliveries are likely to replace old technology aircrafts in the next few years. Technical advancement, modernization and policy reform are the three major premises that underlie this projected opportunity in Indian aerospace engineering.