INDIA’S CIVIL AVIATION SECTOR STANDS AS A CORNERSTONE of the nation’s rapid economic growth, experiencing robust recovery and unprecedented expansion after the challenges posed by the COVID-19 pandemic. This projected momentum is intrinsically tied to the industry’s anticipated growth from $10.89 billion in 2023 to $12.55 billion by 2028, reflecting a Compound Annual Growth Rate (CAGR) of 2.87 per cent over the forecast period.
The Boeing Commercial Market Outlook 2023 further solidifies India’s aviation ascendancy, earmarking 90 per cent of the projected 2,700 new airplanes for South Asia in the next two decades for India. Forecasts from Boeing align with the aspirations for India’s commercial aviation market to ascend into the top three globally by 2041, trailing only China and the United States. The optimism is also substantiated by the India Brand Equity Foundation (IBEF), which points to a fully recovered air traffic movement of 327.28 million in FY23, an impressive surge from 188.89 million in FY22. Projections by the International Air Transport Association (IATA) posit India to secure the third spot in the world’s air passenger market by 2030.
FACTORS FACILITATING INDIA’S AVIATION GROWTH
Denne historien er fra Issue 1, 2024-utgaven av SP’s Aviation.
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Denne historien er fra Issue 1, 2024-utgaven av SP’s Aviation.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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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
