Mumbai: With India Inc expanding its footprints across geographies and the number of billionaires increasing, the business jet market of the country is set to grow nearly double in the next five years, a report has said.
A growing economy, rising revenues of domestic companies, an increasing number of high-net-worth individuals, poor connectivity to smaller towns in the hinterland and the need to save time and increase productivity are likely to drive the growth in the segment, says a report by global consultancy firm PwC, commissioned by the industry body FICCI.
"The domestic general aviation market is on the threshold of catapulting itself into the global arena. It is expected to grow at 10 per cent per annum to cross USD 4.5 billion by FY'17. It is estimated that around 120 business jets, 150 small aircraft and 180 helicopters will be added by FY17," it said.
10/02/13 PTI/Economic Times
