Bangalore: Many businessmen from tier-II cities are hopping aboard the plane-in-my backyard bandwagon to better manage their far-flung operations. The business aviation market is already flush with buyers from the real estate sector, offshore gas exploration and mining companies.
India's growing roster of high net worth individuals (HNIs) and demand from corporates are accelerating sales of business jets in the country. Sensing demand for flexible transportation, players like Embraer, Hawker Beechcraft, Gulfstream, Falcon and Bombardier are fighting for a pie of the country's burgeoning business aviation market.
According to Centre for Asia Pacific Aviation (CAPA), the general aviation market comprising business jets, helicopters, turboprops and piston engines is expected to touch $12 billion in sales by 2020 with a fleet size of 2,000 aircraft from the current 680.
With rising bottomlines, corporates and HNIs are finding it easier than before to afford a business jet, said Amber Dubey, director (aerospace and defence), at consulting firm KPMG.
Centre for Asia Pacific Aviation (CAPA) says general aviation market expected to touch $12 billion in sales by year 2020 With rising bottomlines, corporates and HNIs are finding it easier than before to afford a business jet Business aircraft no more a luxury, but a tool for increased productivity Turboprops start from $5 million and go up to $100 million for a full-fledged business jet.
Desi entrepreneurs have booked themselves on a jet-setting flight. They have acquired private craft to cut travel time and focus more on their business.
21/04/11 Shipa Phadnis/Times of India
To Read the News in full at Source, Click the Headline
0 comments:
Post a Comment