India, China will be among core buyers of jet engines at a whopping $ 1,700 bn: Rolls Royce

New Delhi: India and China would be among countries which would constitute the largest market for aircraft engines and their after-sale services, totalling a whopping $ 1,700 billion, over the next two decades, a major manufacturer of jet engines has said.
Delivery of 1,49,000 engines have been forecast over the next 20 years to power 68,000 new aircraft and business jets, London-based airplane engine maker Rolls Royce said in its latest market outlook.
While the engines themselves would be worth $ 975 billion, another $ 700 billion has been estimated as the cost of after-market services, it said.
Noting that fastest growing economies would be in Asia and Middle East, the study said domestic aviation markets in India and China would see a 9.8 per cent and 7.9 per cent per annum growth respectively. Compared to this, mature markets of Europe and North America would grow by 2.5 per cent per year.
06/07/12 PTI/Economic Times

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Categories: Foreign Jul 2012, Indian Aviation- In General Jul 2012