Indian Flights market to be third largest in Ten years
Indian Flights market to be third largest in Ten years
Consumers can expect more exiting Flights to India offers as, in the last six years the airline industry in India has grown by a whooping 400%. Driven by high consumer demands and comparatively competitive pricing by the airlines, the growth in the sector is also driven by international operations started by some Indian airlines. AS a conservative projection, in 10 years Indian market will be the third largest aviation market after the US and China.
In a short of vetting the data trends, world aviation industry body International Air Transport Association had also stated that powered by emerging economies like China and India, carriers in the Asia-Pacific region will post highest profit ever of $7.7 billion in 2010, overtaking all the airlines in North America and Europe.
Yearly India Flights Trends and stats
There has been some marked departure from time trends observed in last some years regarding Indian flights sector:
1. The dominance of private airlines to the extent that they now account for more than 75 percent of the total aviation industry.
2.The emergence of Low cost No Frills airlines with all major airlines such as Jet Airways and Kingfisher airlines offering the low cost model of Flights service.
3. Internationalization of the domestic services wherein most of the airlines are exploring possibilities to have international flights operations.
4. Entry of International players like Emirates, Thai and Etihad to fill the gap that exist for Flights to India operations.
Yearly Trends
A. The Airlines industry is expanding at staggering compound annual growth rate of 18 per cent. With India having more than 400 airports and airstrips and 16 of them being are international airports the growth can only be more in near future.
B. Expansion of Air Service sin Non Metro areas: The Air Port Authority of India has a budget of more than one billion dollars to be spent on airport modernization in non-metro areas. More than 20 airports are to be modernized besides around 10 Greenfield airports for the aviation sector expansion and growth.
C. The private airlines are expected to invest more than US$ 80 billion for aircraft acquisition and the AAI is to invest US$ 30 billion towards the development of airport infrastructure till 2020.
D. FDI policy is to be relaxed in future thought presently as well FDI of 100% is allowed in Aviation Sector.
Major Players: The major players in the Indian Aviation Market remain Jet Airways, Kingfisher Airlines and Indigo Airlines besides Air India. But the other Players are Etihad Airways and Emirates Dubai and Air Arabia AbuDhabi.