India, Bangalore and the Aerospace Sector
India is poised to become a large commercial and defence aircraft market. With rising passenger traffic and increasing military and defence expenditures, the demand for aircrafts is expected to increase.
Boeing expects a demand of between 900 to 1,000 commercial aircraft worth USD100 billion approximately in the next 20 years. This also suggests that a significant portion of business opportunity could accrue to India, due to the associated offsets. The defence offset policy has been under implementation and a formal civil offset policy is also expected to follow shortly.
As Indian manufacturing capabilities mature over the years, it is expected to capture a large share of this opportunity. The Indian aerospace industry is one of the fastest-growing aerospace markets in the world with an expanding consumer base comprising airlines, businesses and High Net Worth Individuals. The rapid growth of this industry has attracted major global aerospace companies to India. All segments in the aerospace industry, including civil and military aviation and space, are showing a significant level of growth.
*Source: Confederation of Indian Industry: Aerospace
Learn more about the aerospace industry in India:
|Airbus Group in India
|Boeing in India
|Dassault may manufacture Rafale fighter aircraft in India
Source: The Economic Times of India
|The indian aerospace industry 2019