India - a lucrative commercial aerospace, defence destination: Deloitte

Bangalore A new Deloitte Touche Tohmatsu report estimates the Indian commercial aerospace market to absorb about 1,100 commercial jets worth $130 billion over the next 20 years, making it one of the most lucrative markets for the global aviation majors.
The report -focused on the global aerospace and defence sectors - points to the recent order placed by Gurgaon-based budget airline IndiGo for 180 Airbus A-320 aircrafts, estimated at $15.6-billion in January earlier in the year, and which has been cited as the largest in aviation history.
"Indian orders are being driven by forecasted annual Revenue Passenger Kilometre growth of 15% over the next five years and about 8.5% on average over the next 20 years, significantly higher than the forecast global growth rate of 5 per cent," the report states.
In recent months, India's domestic airlines have placed massive orders with global aerospace vendors such as Airbus, Boeing and Bombardier , as they embark on an aggressive growth strategy in what is often regarded as the fastest growing commercial aviation market in the world.
Separately on June 16, the Wadia group-promoted GoAir placed an order for 72 A-320neo aircrafts, in a deal valued at $7-billion with European manufacturer Airbus.
17/06/11 Biswarup Gooptu/Economic Times

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Categories: Foreign Jun 2011, Indian Aviation- In General Jun 2011