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Growing middle class, low air fares creating new opportunities for aviation industry

 

Middle East, Africa, South Asia, other emerging markets, will demand more planes, pilots, MRO and technologies.

About 4 billion people around the world are estimated to have traveled by air by the end of 2017 for the first time in aviation history.

That's approximately 80 percent load factor and 7.5 percent growth that will bring in about $743 billion gross revenues forthe airlines.

In 2016, some 3.6 billion people traveled by air, creating a 5 percent or more capacity and load factors for various airlines in over 140 countries.

The International Aviation Transport Authority (IATA), which made the 2017 calculations, said this is the 3rd year in a row that the global aviation industry posted positive growth and is likely to continue with analysis pointing to sustained growth in the years ahead as the middle income class in various emerging markets rises with more money to spare, China and India in particular.

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India's growing global military power

 

Now ranked as having the 4th largest armed forces worldwide with more than 4.8 million active and reserved military personnel, India was also the largest importer of major arms in 2012-2016, accounting for 13 percent of the global total, besting even regional powerhouse rivals China & Pakistan.

India continues to be on the global race in many fronts, including the military, where it has spent billions of dollars to modernize its equipment and capabilities.

The Global Firepower 2017 list has ranked India in the 4th place in terms of armed forces size, with the United States in the top spot, followed by Russia and China. Its belligerent neighbor – Pakistan – is ranked 13th.

On September 7, 2017, Indian Prime Minister Narendra Modi appointed Ms. Nirmala Sitharaman as defense minister whose main task is to further strengthen the country's military power.

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8,300 NEW BUSINESS JETS up for deliveries through 2027

 

The rise of millionaires and billionaires in India and other emerging markets are pushing growth in the business aviation sector with connectivity a top priority

The business jet aviation industry is likely to see 8,300 new deliveries of business jets valued at USD249 billion from 2017 through 2027—a modest growth compared to previous years as political and economic uncertainties hover in the air across the world and new innovative ways to getting private flights enterthe market.

But many emerging markets in Asia and South Asia like India are likely to see significant purchase orders within the forecast period with the number of the new rich rising.

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Indian civil aviation industry on to the next level

 

The country's regional connectivity scheme (RCS), more popularly known as 'UDAN'—(Ude Desh ka Aam Nagrik – translated from Hindi as 'the common man will fly') is expected to transform India's  aviation landscape. The government has already approved the construction of 18 Greenfield airports requiring an investment of USD4.66 billion.

In less than a decade from now, circa 2026, India is forecast to become the third largest civil aviation market in the world, next onlyto the US and China.

The passenger numbers, not so much cargo, are highly encouraging and these certainly will catapult India into one of the top aviation markets in the world, the International Air Transport Association (IATA) boldly forecasts.

The upward trend in the Indian aviation market since a couple ofyears has been on expected lines. From January to August 2017, domestic airlines carried

75.41 million passengers, up from 64.46 million during the corresponding period in 2016, thereby, registering a growth of 16.97 percent.

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MRO services in high demand as travel and air freight activities soar

 

Robots will help industry meet growing challenges but humans will remain in the lead

Air travel in emerging countries  is growing, thus, increasing demand for aircraft MRO services. Not surprisingly, many new MRO service centers have opened up in different countries.

MRO services are also in high demand among cargo airlines as more of their planes are used to transport goods in many parts ofthe world, requiring timely checks and repairs to ensure efficient performance and safe airtravel.

The market is driven by various factors such as increased focus of OEMs on aircraft MRO service and rapid aircraft fleet expansion as well as increased need for proper maintenance of engines & components.

By 2023, the global aircraft MRO market is expected to surpass $95 billion, growing at a CAGR of more than 5% during the forecast period.

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