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Research and Markets has announced the addition of the "Study of the Indo-China Aviation Market 2017" report to their offering.
"Study of the Indo-China Aviation Market 2017" highlights key dynamics of the global, India and China's aviation market. The growing opportunity in the sector has been investigated.
The initiatives and performance of key players including Cathay Pacific Airways Ltd., China Eastern Airlines Corporation Ltd, Indigo, Jet Airways (India) Ltd., SpiceJet and Air India has also been examined. The report contains the latest industry stakeholder's opinions.
It has been forecasted that over the next two decades, more than 39,600 planes will be needed globally. While close to 40% of this demand will come from North America and Europe, 38% will come from the Asia region. The remaining demand is expected to come from the Middle East, Latin America, the CIS, and Africa. Single-aisle planes will form a chunk of this demand followed by widebody airplane.
It is projected that China will become the largest aviation market globally, overtaking the United States by 2024. Total number of air passengers is expected to reach 927 million per annum by 2025 and 1.3 billion by 2035, as compared with 487 million in 2015.
In 2010, approximately 268 million passengers travelled by air in China and by 2015, this number had increased by 168 million. It is expected that China will need 6,810 new aircraft and about 248,000 new pilots over the next two decades.
India is said to have the potential to become the world's third largest aviation market by 2020. The sector is expanding fast boosted by the low cost carriers, state of the art new airports and FDI in domestic airlines. It has been projected that the Indian aviation sector will grow at a rate of 10% per annum to reach 4.5 billion USD by FY2017.