Avolon, the international aircraft leasing company, recently issued a white paper about the current analysis on the India aviation market. Titled ‘India, a 21st Century Powerhouse’, this paper is divided into two parts, where the first section specifics the factors impacting India’s commercial airline sector, while the later part encloses an analysis of the Indian aviation market, along with a detailed breakdown of the major passenger markets, airline fleets, and future growth projections.
Commenting on the white paper, Dick Forsberg, Head – Strategy, Avolon and also author of the study, says, “Our thought leadership agenda focuses on assessing the fundamental issues facing the aviation industry and the outlook for domestic and regional aviation markets. This white paper provides a comprehensive analysis of the Indian aviation market and provides forecasts and an outlook for its future development”.
As per the white paper key findings, India’s current passenger fleet will double to almost 1,100 aircrafts by 2027, with domestic passenger demand expected to grow at an average annual rate of 9.6 percent and international passenger demand at 8.3 percent. Revealing the past year’s passenger statistics, the study indicated that 22.8 million international and 117 million domestic passengers were carried by Indian Airlines in 2017, with the Indian airports handling a total of 295 million passengers in 2017. Furthermore, India’s share of the international aviation market has steadily faltered below 40 percent, reflecting years of under-investment at Air India.
Incepted in 2010 by Domhnal Slattery, Avolon is an aircraft leasing company based in Dublin, Ireland, and specializes in providing leasing and lease management services to airlines and aircraft investors worldwide. With offices in the U.S, Dubai, Singapore, Hong Kong & Shanghai, Avolon is the world's third-largest aircraft leasing business with an owned, managed and committed fleet of 890 aircraft.
“While economic and structural barriers remain, India offers an attractive long-term growth market with opportunities in the region significantly outweighing the challenges. Access to domestic and international air travel has never been greater for Indian travellers and an expanding middle class is increasingly taking advantage of the extensive network of domestic routes. However, the international aviation sector in India has been under-developed and, in order to achieve its full potential to support long-term economic growth, trade and tourism, it is imperative that it receives renewed focus and investment,” adds Forsberg.
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