India’s aviation market to grow 10 percent annually in next 10 years

News:

The world’s leading aircraft maker Airbus has said that India’s aviation market will grow at over 10 per cent annually in next ten years, which would be double the average global growth rate.

• Airbus has already committed to source products worth $2 billion cumulatively over the next five years and it is now looking to provide customised maintenance and other services for all its airline customers in India closer to their base.
• Airbus is expecting an annual growth rate of over 11 per cent for the domestic market in India over the next ten years, while the combined growth rate for domestic and international routes would also be more than 10 per cent.
• The aviation penetration is very low in India as compared to other countries, which provides huge growth opportunities. Even if one per cent more people start travelling by air, India would need to double its aircraft fleet.

  Airbus in India:

• For customer service Airbus has got its own maintenance training centre to look at the aircraft that has been sold to the customers in India.
• Airbus is now looking to provide tailored support package to the airlines. The airlines just need to clean the aircraft and then Airbus will do.
• Airbus has also got many aerospace partnerships in the country, starting with a pact with Hindustan Aeronautics Ltd 25 years ago. The other important partners including Mahindras and Tata, which is more about defence sector.

Source: ET