THE INDIAN ECONOMY IS EXPERIENCING A REMARKABLE expansion, with a GDP growth rate of 8.7 per cent in FY 2022, placing it among the highest in the world. Bob Sternfels, Global Partner at McKinsey, boldly declared that it is not just India's decade but India's century. As the economy flourishes, the aviation industry closely follows suit. The growth prospects for Indian aviation are staggering, and international investors are taking notice. Despite lingering concerns, India has made significant strides in addressing these issues, paving the way for a prosperous future in civil aviation.
INDIAN AVIATION GROWTH: A GLOBAL STANDOUT
The growth potential of Indian aviation is undeniable, and the numbers speak for themselves. Asian aviation is projected to grow at a compound annual growth rate (CAGR) of 5.1 per cent over the next 20 years, outpacing America's 2.7 per cent and Europe's 2.3 per cent. Specifically, Indian aviation is projected to grow at a CAGR of 6.3 per cent over the next two decades, surpassing the 4.9 per cent growth rate for the rest of Asia.
India's geographical advantage further solidifies its potential as a major aviation hub. With 50 per cent of the world's population residing within a 6-hour flight time and 65 per cent within a 10-hour flight time, India becomes an attractive destination for airlines. Additionally, the country boasts the world's third-largest domestic civil aviation market, further enhancing its appeal.
There has also been an increase in the number of business aircraft. In 2021 and 2022, approximately 90 registration/ deregistration entries were recorded, compared to approximately 40 in 20 and 35 in 2020. The United States has approximately 600 billionaires and more than 10,000 private jets. India has approximately 166 billionaires and around 132 private jets.
هذه القصة مأخوذة من طبعة Issue 8, 2023 من SP’s Aviation.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
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هذه القصة مأخوذة من طبعة Issue 8, 2023 من SP’s Aviation.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
BRIDGING THE GAP IN THE SKIES
Ministry of Defence sets up a committee to address gaps within the Indian Air Force with a focus on Fighter Jet Squadrons UCAVs
"WE SHOULD PUT ALL OUR EFFORTS INTO BEING SELF-RELIANT ON AN AERO-ENGINE 99 AIR MARSHAL TEJINDER SINGH, DCAS
The quest for an indigenous aero-engine remains a challenge despite the initial success of the Kaveri engine. Can it be a national mission? What is needed to achieve a higher thrust of engine for Tejas Mk2 and AMCA? The possibilities are discussed at the TDF DRDO Conference among the leaders and outstanding aerospace scientists at the Conference.
EMBRAER DEFENSE & SECURITY AN EVOLVING GLOBAL LEADER
Embraer Defense and Security’s portfolio exemplifies innovation and versatility, delivering advanced solutions across air, land, sea, space, and cyber domains to meet the evolving demands of global defence
CHINESE SIXTH GENERATION STEALTH FIGHTER: A MYTH OR REALITY
China’s unveiling of the J-36 and J-50 simultaneously demonstrates its ability to rapidly develop and test advanced fighter platforms, signifying its intent to rival the United States in air power projection
DECODING CHINA'S SIXTH-GENERATION FIGHTER AIRCRAFT PROGRAMME
China’s progress in sixth-generation aviation underscores its ambitions to project power far beyond its borders, influencing regional security dynamics and exacerbating the arms race in Asia
ESA'S PROBA-3 MISSION TAKES OFF ON ISRO'S PSLV
PSLV-CS9 vehicle carried European Space Agency’s Proba-3 spacecraft into a highly elliptical orbit as a dedicated commercial mission of NSIL, the commercial arm of ISRO
KLM: THE WORLD'S OLDEST AIRLINE STILL GOING STRONG!
In 1930, KLM began scheduled passenger service between Amsterdam and Jakarta. The Fokker F.XII plane took 10 days to reach, including 81 hours of flying time. It was the world's longest scheduled flight before the Second World War.
SPICEJET'S $90 MILLION DEAL WITH CANADIAN Q400 PLANES
SpiceJet has successfully resolved a significant dispute with Bombardier over a fleet of Q400 turboprop planes in the form of a $90 million settlement, marking the end of a prolonged legal battle that also has broader implications for the Indian aviation sector
TAPPING THE UNCHARTED WATERS
Seaplane services are expected to transform regional connectivity in India, boost tourism, create jobs, and foster economic development, particularly in hard-to-reach coastal and inland regions
FLIGHT PLAN FOR NAVIGATING BUSINESS AIRCRAFT FINANCING
The business aircraft financing market has witnessed significant growth post-pandemic, driven by increased demand for private and chartered flights
