New Delhi: Aviation is a great industry. It is a force for good in the world that generates wealth—both material and of the human spirit. It has enormous potential—particularly in this region.
Alexandre de Juniac, IATA’s Director General and CEO, said: “These are good times for the global air transport industry. Safety performance is solid. We have a clear strategy that is delivering results on environmental performance. More people than ever are travelling. The demand for air cargo is at its strongest level in over a decade. Employment is growing. More routes are being opened. Airlines are achieving sustainable levels of profitability. It’s still, however, a tough business, and we are being challenged on the cost front by rising fuel, labour and infrastructure expenses.”
All the signs are positive. The future looks bright and without turbulence. The upswing in policy support, conducive business conditions, varied investment opportunities, open markets for foreign direct investments (FDI) and increased investments have been reflected in growing aircraft fleet size, strategic location, a trained pool of highly skilled engineering expertise clubbed with lower labour cost—all of these coming together as an entity.
This strength gives India the edge to be a global Maintenance, Repair and Overhaul (MRO) hub in the longer term. Growth seen in the aviation segment is resulting in an increased demand for MRO facilities. According to Boeing estimates, the Indian fleet will reach 1,200 in size by 2020. India at present has 400 commercial and 700 general aviation aircraft—300 business jets, 300 small planes and 250 helicopters are expected to be added to the current fleet over the next five years.
India is one of the fastest growing aviation markets and currently the ninth largest civil aviation market in the world with a market size of around $16 billion. India is projected to become the third-largest aviation market by 2026 and the largest by 2030.
India’s status as the fastest growing aviation market in the world creates tremendous opportunities. However, the risks are also heightened as the inadequacy of India’s infrastructure planning, a fast emerging shortage of skills, flawed policy initiatives, and weak regulatory oversight, threaten to become major stumbling blocks. The potential is enormous, but unless the government bites the bullet, it will be seriously constrained.
03/03/18 Kamal Shah/Sunday Guardian Live
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Alexandre de Juniac, IATA’s Director General and CEO, said: “These are good times for the global air transport industry. Safety performance is solid. We have a clear strategy that is delivering results on environmental performance. More people than ever are travelling. The demand for air cargo is at its strongest level in over a decade. Employment is growing. More routes are being opened. Airlines are achieving sustainable levels of profitability. It’s still, however, a tough business, and we are being challenged on the cost front by rising fuel, labour and infrastructure expenses.”
All the signs are positive. The future looks bright and without turbulence. The upswing in policy support, conducive business conditions, varied investment opportunities, open markets for foreign direct investments (FDI) and increased investments have been reflected in growing aircraft fleet size, strategic location, a trained pool of highly skilled engineering expertise clubbed with lower labour cost—all of these coming together as an entity.
This strength gives India the edge to be a global Maintenance, Repair and Overhaul (MRO) hub in the longer term. Growth seen in the aviation segment is resulting in an increased demand for MRO facilities. According to Boeing estimates, the Indian fleet will reach 1,200 in size by 2020. India at present has 400 commercial and 700 general aviation aircraft—300 business jets, 300 small planes and 250 helicopters are expected to be added to the current fleet over the next five years.
India is one of the fastest growing aviation markets and currently the ninth largest civil aviation market in the world with a market size of around $16 billion. India is projected to become the third-largest aviation market by 2026 and the largest by 2030.
India’s status as the fastest growing aviation market in the world creates tremendous opportunities. However, the risks are also heightened as the inadequacy of India’s infrastructure planning, a fast emerging shortage of skills, flawed policy initiatives, and weak regulatory oversight, threaten to become major stumbling blocks. The potential is enormous, but unless the government bites the bullet, it will be seriously constrained.
03/03/18 Kamal Shah/Sunday Guardian Live
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