Rising demand for air travel will keep MRO industry busy

“By 2028, our forecast projects the worldwide feet will total 37,978 aircraft, up from the 2018 total of 26,307. Narrow-body aircraft will be the biggest beneficiary of
this expansion, increasing from about 56 percent of the feet in 2018 to 66 percent in 2028 thanks to operating costs, range, and capabilities that allow them to encroach on territory once reserved for wide-bodies.”
  

-Oliver Wyman Global Fleet & MRO Market
Forecast Commentary 2018–2028.
  

With air travel forecast to steadily grow over the next few years, airlines are expected to keep the industry of maintenance, repair and overhaul (MRO) busy and wealthy with spending for upkeep conservatively forecast to grow 4.6% year-on-year.

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Air cargo industry to soar with technology & aviation growth

The World Tourism Organisation has estimated that by 2030 a global population of 8.5 billion people will take approximately 2 billion international trips, necessitating the transportation industry to come up with ways
and means to make this happen.
 
 

Along with the movement of people, there is movement of goods too,requiring faster planes, increased cargo hold capacities, cold storage and automation, etc. The transformation of the cargo landscape is impressive.


Technology is playing a key role in this massive shift. Information technology has been a disruptive force ,
encompassing all sectors. Smartphones, artificial intelligence (AI), robotics, block chain technology, digital
payments, social media and the like have been impacting businesses (whether it is manufacturing or service) all over the world. The air cargo industry is no exception to the transformational changes that are taking place.

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Business aviation is waiting to takeoff in India

As per the Directorate General of Civil Aviation (DGCA), there are 109 non-scheduled operators (we are not taking into consideration private owners of jets) which have a feet of 353 aircraft (including hot  airballoons,helicopters,turboprops and business jets).  

General Aviation and Business Aviation (GA/BA) have long been utilized in the West and the Middle East as integral part
of national transportation systems.

Despite its huge population and rising economy, India has yet to fully embrace GA/BA's potentials with the industry often categorized as only for the elite. But off late, we hear voices in the corridors of power how this can be used to expand regional connectivity. 

 

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Commercial Helicopters

The global commercial helicopter industry was valued at $8.2 billion in 2017 but by 2027 it could go up to $11.6 billion. Key factors include rising demand from emerging economies in the Asia-Pacific, Middle East and Latin America which utilize the aircraft for emergency services,law enforcement, transport and tourism.

The use of helicopters has gone up in different sectors-medical ,tourism,miltary commercial transportation and so on. And the trend is likely to be sustained for the long run with research
pointing to its market value rising fromUS$8.2 billion in 2017 to US$11.6 billion by 2027.

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India pushes for stronger military

Country of over 1.35 billion to spend US$223B  in a decade to modernize military .As India's population and economy grow, so does its appetite to increase its military strength. The Indian government says it plans to spend more than US$223 billion within the next 10 years to modernize its military capabilities and fleet. Now ranked 4th globally in terms of military spending, India envisions to equip its armed forces with the most modern weapons by 2027 contemplating to buy as much as 500 new helicopters, 12 submarines, nearly 100 single engine jet fighters and over 120 twin-engine fighter aircraft.  

Opposition parties, led by the Congress (I) has made the purchase of Dassault Aviation's fighter jets – Rafale, a rallying point. While Congress understands that Rafale is necessary for the Indian Air Force (IAF) which now has depleted squadron strength, it is making serious allegations against the NDA (National DemocraticAlliance) government.

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