Even as policymakers in the government are toying with the idea of creating an aircraft leasing sector in the country, the experts, though positive, are of the opinion that key strategic issues need to be addressed before the initiative is taken forward.
According to the latest report prepared by aviation consultancy firm CAPA, the development seems significant as India which is amongst the fastest growing aviation market in the world has placed an aircraft order of more than 1,000 aircraft valued at around $50 billion, which in unit terms is third only behind the US and China.
Importantly, the vast majority of these aircraft will be taken on lease from offshore lessors. Further, around 30 years from now, India's commercial airline fleet is expected to cross 5,000 aircraft, which will require a massive aviation eco-system including maintenance, crews, lessors, etc. thus prompting the government to think on those lines, the ministry sources reveal.
A recent study report published by the Market Research Future, the aircraft leasing market is projected to grow at a rapid pace and gain further prominence during the forecast period (2016 – 2023). The market is projected to demonstrate an elevated growth by 2023, surpassing its previous growth records by posting a decent CAGR during the period 2016-2023. The global aircraft leasing market is expected to reach $ 62,221.8 million by 2023 at a CAGR of 4.75%.
09/10/18 Shahkar Abidi/DNA
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According to the latest report prepared by aviation consultancy firm CAPA, the development seems significant as India which is amongst the fastest growing aviation market in the world has placed an aircraft order of more than 1,000 aircraft valued at around $50 billion, which in unit terms is third only behind the US and China.
Importantly, the vast majority of these aircraft will be taken on lease from offshore lessors. Further, around 30 years from now, India's commercial airline fleet is expected to cross 5,000 aircraft, which will require a massive aviation eco-system including maintenance, crews, lessors, etc. thus prompting the government to think on those lines, the ministry sources reveal.
A recent study report published by the Market Research Future, the aircraft leasing market is projected to grow at a rapid pace and gain further prominence during the forecast period (2016 – 2023). The market is projected to demonstrate an elevated growth by 2023, surpassing its previous growth records by posting a decent CAGR during the period 2016-2023. The global aircraft leasing market is expected to reach $ 62,221.8 million by 2023 at a CAGR of 4.75%.
09/10/18 Shahkar Abidi/DNA
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