As far as the global aviation market is concerned, India is gradually moving up the ranks. Both cargo and passenger traffic have shown tremendous growth and there has been momentous augmentation of capacities in airlines as well as airport infrastructure. The 11th five year plan from 2007-2012 has pushed the Indian aviation sector on the path of high growth. In the year 2011, India became one of the ten largest aviation markets in the world. Here are some of the major achievements during recent years:
• In the year 2011, India became the 9th largest civil aviation market in the world
• In recent years the passenger traffic has increased from 73 million to 144 million
• The cargo traffic has increased from 1.5 million MT to 2.3 million MT
• Connectivity to North Eastern region increased from 87 flights per week to 286 flights per week
• During this period four international airport projects were successfully completed through public private partnership mode
• By the end of 2011, there were 5 Indian carriers operating on international routes
• Also, by FY 11, India had bilateral agreements with 104 countries
Now, India plans to be a global aviation hub and become one of the top 3 aviation markets in the world by 2020.
Worth of Indian Aviation Industry
Indian Aviation Industry’s market size is estimated to be close to USD 12 billion. The airline and airport segments constitute around four-fifths of the total size. Also, the revenues of ground handling, cargo, MRO and General Aviation are expected to grow to a great extent with favourable policy changes expected over the next 5 years.
Significant Growth Drivers
Oil price instability, economic cycles, political disturbances and natural disasters are some points to which the civil aviation industry is susceptible. Still, the industry has managed to display flexibility to the recent global economic slowdown. During the last decade, there were some of the key developments which aided the growth of the Indian aviation. They include:
• Domestic open skies policy through which the doors for several new carriers were opened
• With the launch of Air Deccan, the other low cost carriers such as Indigo, Spice Jet and GoAir too entered the market
• Airport modernisation plans along with encouraging greenfield airport development were executed
• The international sector was liberalised to a great extent with private players getting permission to operate overseas, though with a requirement of 5 years of operation and 20 aircraft fleet.
• More access for foreign carriers and opening up of international routes for regional airports
• Enhanced foreign direct investment limits for some sub sectors of the industry such as airports, air cargo, ground handling, etc.
The aviation sector in India, today, supports more than 60 million jobs for all including aircraft maintenance engineers coming out fresh of aircraft maintenance engineering colleges in Mumbai. This sector also produces over US$ 2.5 trillion of the global gross domestic product. With India aiming to be become a global aviation hub by 2020, the Government plans to invest big in the aviation sector towards construction of new, low cost airports and developing the prevailing on.
Priyesh Mishra, Head of Admin at Indian Aerospace & Engineering is the author of this article. He has been associated with Indian Aerospace & Engineering, one of the leading Aircraft maintenance engineering colleges in Mumbai offering some of the best aviation courses in Mumbai, for several years. Priyesh is a shrewd administrator at the centre having a deep understanding and liking for writing articles.
Keywords: Aviation courses in Mumbai, Aircraft maintenance engineering
By: Priyesh Mishra
Article Directory: http://www.articlecatalog.com
Copy and Paste Link Code:
Read other Articles from Priyesh Mishra:
Article ID 1038634 (Views 149)