Indian aerospace sector poised to grow

Chennai: India is poised to become a large commercial and defence aircraft market. With rising passenger traffic and increasing military and defence expenditures the demand for aircrafts is expected to increase, according to the latest PricewaterhouseCoopers –CII report on ‘Changing Dynamics-Indian Aerospace Industry’.
Boeing expects a demand of between 900 to 1,000 commercial aircraft worth $ 100 billion in the next 20 years. A significant portion of business opportunity could accrue to India, due to associated offsets or compensating for something else factor.
The Investment Commission of India has projected that passenger traffic would grow at a CAGR of over 15 per cent over the next 5 years. The Vision 2020 statement announced by the Ministry of Civil Aerospace envisages creating infrastructure to handle 280 million passengers by 2020.
Investment opportunities of $ 110 billion are targeted upto 2020 with $ 80 billion in new aircraft and $ 30 billion in development of airport infrastructure.
26/02/09 ExpressBuzz

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Categories: Indian Aviation- In General Feb 2009