India fourth biggest market for aircraft deliveries: Airbus

New Delhi: India will be the fourth biggest market in terms of value for all new aircraft deliveries after China, the US and the UAE during the next 20 years, according to aircraft maker Airbus.
The Airbus Global Market Forecast identifies a global demand for some 28,200 passenger and freighter aircraft (of 100 seats or more) worth nearly $4 trillion between 2012 and 2031. Of these over 27,350 will be passenger aircraft valued at $ 3.7 trillion.
India was the worst performer in domestic air traffic in July, recording a fall of 1.1 percent compared with a year ago, according to the International Air Transport Association (IATA).
Many other economies also faced a slowdown in travel growth, driven largely by a recent fall in business confidence, according to the IATA. But the Airbus report says passenger traffic will grow at an average annual rate of 4.7 percent in the next 20 years, during which some 10,350 aircraft will be replaced by new efficient models.
04/09/12 Binoy Prabhakar/Economic Times

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