Hyderabad: Given its strong growth and potential, the Indian civil aviation market is expected to become the world’s third-largest in 2025, much ahead of the projected timeline of 2027, according to consultancy Deloitte.
“The country is forecast to have a demand for a record 2,100 new aircraft, worth $290 billion, with the majority of these being single-aisle planes. The demand will primarily support the growth of low-cost carriers, which account for more than 60 per cent of the total flights in the country,” said Alaric Diniz, Director, Deloitte India.
Diniz said that with a global economic recovery under way and heightened demand for passenger travel, the commercial aircraft sub-sector is expected to grow at 4.8 per cent annually.
Led by India, South Asia is expected to witness an 8 per cent rise in passenger growth over the next 20 years.
Diniz referred to a number of initiatives of the Centre to attract investments in the aviation and defence sectors — 100 per cent FDI with government approval; increased international engagement; updated defence procurement procedures with amendments to the offset regulations, and the strategic partnership model focussed on key sub-sectors such as fighter aircraft, — and said these would add to the growth momentum.
Citing Deloitte’s ‘2018 Global Aerospace and Defence Industry Outlook’, he said there is potential for huge growth in several of the country’s unserviced cities, where there is focus to develop aviation infrastructure.
25/05/18 V Rishi Kumar/Business Line
To Read the News in full at Source, Click the Headline
“The country is forecast to have a demand for a record 2,100 new aircraft, worth $290 billion, with the majority of these being single-aisle planes. The demand will primarily support the growth of low-cost carriers, which account for more than 60 per cent of the total flights in the country,” said Alaric Diniz, Director, Deloitte India.
Diniz said that with a global economic recovery under way and heightened demand for passenger travel, the commercial aircraft sub-sector is expected to grow at 4.8 per cent annually.
Led by India, South Asia is expected to witness an 8 per cent rise in passenger growth over the next 20 years.
Diniz referred to a number of initiatives of the Centre to attract investments in the aviation and defence sectors — 100 per cent FDI with government approval; increased international engagement; updated defence procurement procedures with amendments to the offset regulations, and the strategic partnership model focussed on key sub-sectors such as fighter aircraft, — and said these would add to the growth momentum.
Citing Deloitte’s ‘2018 Global Aerospace and Defence Industry Outlook’, he said there is potential for huge growth in several of the country’s unserviced cities, where there is focus to develop aviation infrastructure.
25/05/18 V Rishi Kumar/Business Line
0 comments:
Post a Comment