Mon, Dec 16, 2013
Country Supplies Components For Boeing, Airbus Airplanes
A new market study published by Indian business analyst Bharat Book indicates that India is a potential market for the manufacturer of commercial aircraft parts and MRO services. Currently, there is no company in India that manufactures complete commercial aircraft. Therefore, the country relies on the import of commercial aircraft from other countries such as the US and the UK. However, there are some vendors in India that manufacture commercial aircraft parts for Airbus SAS and the Boeing Co.
The Commercial Aircraft market in India is expected to grow at a steady rate during the period 2013-2018. The manufacturing of aircraft parts has gained momentum in recent years, and the demand for aircraft parts is expected to increase in the coming years. The Commercial Aircraft Parts Manufacturing market in India is expected to grow at a CAGR (Compound Annual Growth Rate) of 7.32 percent, and the MRO market in India is expected to grow at a CAGR of 12.62 percent during the forecast period.
The growth of the Commercial Aircraft market in India is driven by many factors. Increasing demand for MRO activities is one of the major drivers in the Commercial Aircraft market in India. The MRO market in India is expected to grow at a rapid rate as the market witnesses several growth opportunities, as there are several MRO projects under development in the country. Another major driver in the market is the increasing outsourcing of manufacturing activities to India.
The report indicates that despite several growth drivers, the Commercial Aircraft market in India is also facing certain inhibitors that impede the growth of the market. Fluctuating jet fuel prices is one of the major challenges in the Commercial Aircraft market in India. Jet fuel prices have shown an increasingly rising trend globally in the past four years. It is expected to rise further, leading to a decrease in overall profitability of airlines. Additionally, lack of proper airport infrastructure is one of the major challenges in the market in India.
Despite the presence of serious challenges, the Commercial Aircraft market in India is witnessing several emerging trends. One the major emerging trends is increase in FDI in civil aviation. This is expected to attract the focus of foreign investors in India. Another major trend in the market is the increase in strategic alliances among international commercial aircraft manufacturers, Indian commercial aircraft parts manufacturers, and MRO organizations. Thus, with these growth drivers and emerging trends, the Commercial Aircraft market in India is expected to grow at a steady growth rate during the forecast period.
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