NewswireToday - /newswire/ -
Noida, Uttar Pradesh, India, 2010/12/13 - Fast growing air passenger traffic and developments in low cost carriers sector will enable the industry to register 16.7% CAGR growth during 2010-2013, says RNCOS.
According to our new research report “Indian Aerospace Industry Analysis”, the aerospace industry has witnessed skyrocketing growth in the past few years. The government's open sky policy has attracted many overseas players to enter this market and the industry is growing both in terms of players and the number of aircrafts. Industry showed tremendous resilience against recession and passenger traffic posted double-digit growth rate in FY 2010. The research further revealed that on the strong fundamentals of augmenting traffic and other factors, the civil aerospace industry would continue to post double-digit CAGR growth by 2013.
The study identified that during past few years, the defense segment has been dominating the aerospace industry on account of increasing security concerns due to threat of terrorist attacks, regional political issues, and huge expenditure by the government towards the defense segment. But now, the civil aerospace has gained the kinetic energy and is posting higher growth than military aerospace. It is anticipated that the industry will sustain its promising growth outlook in coming years also and will invite number of international majors to provide answers to overflowed demand.
Moreover, few sub-segments are expanding rapidly and attracting various global aviation majors. For instance, low costs carriers are becoming a norm for domestic passengers in the country. They have created their own niche in Indian skies and providing tough competition to full service carriers. As per the estimates, these LCC”s accounts for close to 40% share in entire aviation space and their share is growing rapidly.
Our report “Indian Aerospace Industry Analysis”, has been authored to evaluate the growth potentials of the Indian aerospace and defense industry. It provides current and projected statistics and analysis on all prominent industry segments including civil aerospace market, airports infrastructure, low cost carriers market, passenger traffic outlook defense expenditure, equipments overview etc. Apart from market forecasts, the report facilitates business description and recent developments of major industry players in India to provide balanced treatment of analysis.
RNCOS (rncos.com) specializes in Industry intelligence and creative solutions for contemporary business segments. Our professionals study and analyze the industry and its various components, with comprehensive study of the changing market behavior. Our accuracy and data precision proves beneficial in terms of pricing and time management that assist the consultants in meeting their objectives in a cost-effective and timely manner.