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India’s Aviation Growth to multiply in respect to the Global Platform

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indian-aviation-sectorOne of the international renowned aircraft maker Airbus has said that India’s aviation market will balloon at over 10pc annually in next ten years, which would be double the average global growth rate.
An optimistic architecture on India as a marketplace as well as manufacturing hub, Airbus has already committed to source products worth $2Bn cumulatively over the next five years and it is now looking to provide customized maintenance and other services for all its airline customers in India closer to their base.
“India is very much on Airbus map for all the important work that we do globally and it is not just from the market perspective,” Airbus India Managing Director Srinivasan Dwarkanath said.
“In terms of market, India will be one of the top three aviation markets globally in the next 20 years. It is already one of the fastest growing markets,” he said, adding that the country would need to double its aircraft fleet even if 1pc more of its population starts travelling by air.
“We are 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 10pc.
That would be almost double the global growth rate,” he said.
Dwarkanath said Airbus wants to be “very close to its customers and we want to be in India”.
“In our Global Market Forecast 2013, we had said that India would need 1,291 new passenger and freight aircraft by 2032.
“In just two years, more than one-third of this projected requirement has been met, which means more than 800 more would be needed by 2032. But it seems we would have to revise upward the forecast,” he said.
“If we compare it with other countries, the aviation penetration is very low in India, which provides huge growth opportunities. Even if one per cent more people start travelling by air, India would need to double its aircraft fleet.
“The growth prospect is huge and therefore I feel we may have to revise our growth forecast in the future,” he added.
Tatas are ally in the very important Avero replacement as well as for other important opportunities.
There are approximately 40 suppliers that we have got in India and ten of them are direct suppliers.
“Our fourth focus area for India is R&D and innovation. It goes beyond engineering and we are also looking at emerging technologies and innovative solutions that we can give to the airlines.
We have got our R&D and innovation units in three places across the world and India are one of them, while the person who heads this segment is based in Bangalore.

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