India's fast-growing civil aviation sector, already among the top 10 globally, could be number one worldwide by 2030, a report by global consultancy KPMG says.
Even though most Indian airlines face hefty losses in 2014 and huge debts in the face of fierce competition and a sharply slowing economy, in the longer term the $US16 billion ($A17.90 billion) sector is on a high-growth track thanks to large untapped potential, experts say.
"We've just touched the tip of the aviation iceberg," said Amber Dubey, KPMG's India aerospace head said, noting "access to aviation is still a dream for nearly 99.5 per cent" of India's 1.2 billion population.
Chicago-based Boeing in a similarly bullish mode, separately projected demand for more than 1,600 new airplanes in India over the next 20 years, valued at $US205 billion.
"India's demographics are highly favourable to growth of air transportation" while "the share of India's large population entering the workforce is growing," said Dinesh Keskar, a Boeing senior vice president.
25/03/14 AFP/Yahoo
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Even though most Indian airlines face hefty losses in 2014 and huge debts in the face of fierce competition and a sharply slowing economy, in the longer term the $US16 billion ($A17.90 billion) sector is on a high-growth track thanks to large untapped potential, experts say.
"We've just touched the tip of the aviation iceberg," said Amber Dubey, KPMG's India aerospace head said, noting "access to aviation is still a dream for nearly 99.5 per cent" of India's 1.2 billion population.
Chicago-based Boeing in a similarly bullish mode, separately projected demand for more than 1,600 new airplanes in India over the next 20 years, valued at $US205 billion.
"India's demographics are highly favourable to growth of air transportation" while "the share of India's large population entering the workforce is growing," said Dinesh Keskar, a Boeing senior vice president.
25/03/14 AFP/Yahoo
