The Indian aerospace industry has experienced significant growth during the last five years and is expected to reach US $23.52 billion by 2016. Boosted by increase in disposable income of the country’s citizens and the subsequent increase in air travel, India’s domestic passenger growth is expected to reach a level of 150-180 million passengers by the year 2020. The introduction of the defense offset policy in 2006 and significant liberalization in 2008 has provided significant opportunities for Indian companies entering the sector.
Lucintel, a leading global Management Consulting and market research firm, has analyzed the Indian Aerospace and MRO Market and just now published a comprehensive research report, “Opportunities in Indian Aerospace and MRO Market: 2011-2016”.
As per the study, increases in fleet size, low labor cost and government support to the industry are the major factors driving the Indian MRO market. The Indian MRO market is expected to reach US $1.8 billion by 2016. However there are some challenges in front of Indian MRO players which should be addressed quickly, including infrastructure development and technological advancements.
As per Lucintel, India is a promising market for global MRO companies because the Indian aviation industry has high passenger traffic, low cost airlines and an increasing numbers of aircraft. Currently, there are no full MRO service facilities within a five-hour flight of India.
The commercial aircraft market is expected to demonstrate strong, positive growth. The demand for business jets will grow with economy, which is poised for robust growth; consequently the business jets market will grow significantly. Additionally, Lucintel estimates that the defense sector will grow with a CAGR of 15% over the next five years.
This Lucintel research report provides insights regarding recent industry trends, as well as future opportunities and threats. Its analysis provides market details on a global market as well as a segment basis, and encompasses civil and military aviation as well as MRO and Offset markets in India.
For a detailed table of contents and pricing information on this timely and insightful report, please contact Lucintel at +1-972-636-5056 or via email at helpdesk@lucintel.com. Lucintel provides cutting edge decision support services that help you make critical decisions with greater speed, insight, and cost efficiency. To find out more, please visit www.lucintel.com.