The aviation industry in India has grown rapidly since liberalization in the 1990s. It is now the third largest aviation market in the world. Major players include Air India, IndiGo, SpiceJet, Vistara and Go Air. The industry has grown from a few state-owned carriers at independence to over 60 domestic airlines today, with low cost carriers having around 75% of the domestic market share. While traffic has grown significantly, the industry currently faces challenges from high oil prices, rising costs, and infrastructure constraints at airports.