Aerobatics is absolute fun to watch and experience. A bit to aerobatics happens at the Aero Show in Bangalore and a bit happens during the Republic Day Parade in Delhi. Some people would have heard of Surya Kiran, The Indian Air Force aerobatic display team, The Indian NAVY aerobatic team Sagar Pawan and Sarang helicopter display team.
But Globally, aerobatics is huge with display teams like Red Arrows, US Navy Blue Angels, Patriots Jet Team, Thunder Birds, Canadian Forces Snowbirds, Royal Air Force Typhoon Display Team, RAF Chinook Display Team, USAF Thunderbirds, Russian Knights and many others.
The best list of aero shows around the world can be found on THIS link.