NewswireToday - /newswire/ -
Noida, Uttar Pradesh, India, 2011/02/04 - Driven by strong demand from middle class consumer segment along with decreasing air fares will propel the industry to achieve 34.3% CAGR growth during 2010-2013, says RNCOS.
According to our latest research offering “Indian Aerospace Industry Analysis”, Indian aerospace industry has emerged as one of the fastest growing and high growth potential markets in the world. A vast and affluent middle class consumer base along with cut throat competition has provided a suitable platform to the industry to grow and prosper. The Low Cost Carriers (LCC’s), in particular, have registered most impressive market developments during the past few years and are further expected to orchestrate 34.3% CAGR growth by 2013, which is one of the highest in the world.
The research identified that, these low cost carriers have now become a norm for domestic passengers in the country as well. They have created their own niche in the Indian market and are giving tough competition to full service carriers. It is estimated that, in 2010, these LCC’s will account for nearly 40% share in the entire aviation space in India. On the strong backing of various market drivers discussed and evaluated in the report, we anticipate this share to grow stupendously in the coming years, which will improvise LCC’s market attractiveness in the Indian skies.
The study also revealed that airlines will require over 1000 aircrafts by 2020, which will make India one of the biggest markets for global OEM’s and also fuel domestic MRO sector growth. Midterm aircraft fleets expansion is expected to exert tremendous strain on operational and safety agencies. This can be perceived as an excellent market opportunity for airport surveillance equipments market and ground safety equipments sector.
Our report “Indian Aerospace Industry Analysis”, has been authored to examine market potentials of the Indian aerospace industry and future growth opportunities. The report provides statistics/analysis on all prominent industry segments including, civil aerospace market, airports infrastructure, low cost carriers market, passenger traffic outlook defense expenditure, equipment overview etc. Most importantly, the report has also provided industry forecasts based on correlation of past drivers, challenges, and opportunities for expansion. In this way, the report presents a complete and coherent analysis of the Indian aerospace industry, which will prove decisive for clients.
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.