AS INDIA SETS ITS SIGHTS ON BECOMING A $5 TRILLION economy, commercial aviation emerges as a pivotal player in this ambitious journey. More than a mode of transportation, aviation serves as a catalyst for economic growth, driving tourism, trade, employment, and infrastructure development. Let us look at how India's aviation sector, with its soaring potential and expanding infrastructure, can help propel the country towards its economic goals.
THE MULTIPLIER EFFECT OF AVIATION
The impact of the aviation industry extends far beyond the immediate revenues generated from ticket sales and airport operations. This "multiplier effect" is fundamental to understanding its economic significance. For instance, Air India's recent order of 470 aircraft, the largest in aviation history, not only signals growth within the airline but also promises to stimulate various sectors of the economy, from manufacturing to services.
Tourism Boom: Enhanced air connectivity can transform India's tourism landscape. With its rich cultural heritage and diverse landscapes, India attracted over 17 million international tourists in 2019. The introduction of new flights and routes, especially by carriers like IndiGo and Akasa Air, which recently ordered 300 and 72 aircraft respectively, aims to increase these numbers significantly. Improved air links can bolster the tourism sector, potentially increasing tourist arrivals by 10-15 per cent annually, which translates to billions in revenue and thousands of new jobs.
This story is from the Issue 8, 2024 edition of SP’s Aviation.
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This story is from the Issue 8, 2024 edition of SP’s Aviation.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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BRIDGING THE GAP IN THE SKIES
Ministry of Defence sets up a committee to address gaps within the Indian Air Force with a focus on Fighter Jet Squadrons UCAVs
"WE SHOULD PUT ALL OUR EFFORTS INTO BEING SELF-RELIANT ON AN AERO-ENGINE 99 AIR MARSHAL TEJINDER SINGH, DCAS
The quest for an indigenous aero-engine remains a challenge despite the initial success of the Kaveri engine. Can it be a national mission? What is needed to achieve a higher thrust of engine for Tejas Mk2 and AMCA? The possibilities are discussed at the TDF DRDO Conference among the leaders and outstanding aerospace scientists at the Conference.
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CHINESE SIXTH GENERATION STEALTH FIGHTER: A MYTH OR REALITY
China’s unveiling of the J-36 and J-50 simultaneously demonstrates its ability to rapidly develop and test advanced fighter platforms, signifying its intent to rival the United States in air power projection
DECODING CHINA'S SIXTH-GENERATION FIGHTER AIRCRAFT PROGRAMME
China’s progress in sixth-generation aviation underscores its ambitions to project power far beyond its borders, influencing regional security dynamics and exacerbating the arms race in Asia
ESA'S PROBA-3 MISSION TAKES OFF ON ISRO'S PSLV
PSLV-CS9 vehicle carried European Space Agency’s Proba-3 spacecraft into a highly elliptical orbit as a dedicated commercial mission of NSIL, the commercial arm of ISRO
KLM: THE WORLD'S OLDEST AIRLINE STILL GOING STRONG!
In 1930, KLM began scheduled passenger service between Amsterdam and Jakarta. The Fokker F.XII plane took 10 days to reach, including 81 hours of flying time. It was the world's longest scheduled flight before the Second World War.
SPICEJET'S $90 MILLION DEAL WITH CANADIAN Q400 PLANES
SpiceJet has successfully resolved a significant dispute with Bombardier over a fleet of Q400 turboprop planes in the form of a $90 million settlement, marking the end of a prolonged legal battle that also has broader implications for the Indian aviation sector
TAPPING THE UNCHARTED WATERS
Seaplane services are expected to transform regional connectivity in India, boost tourism, create jobs, and foster economic development, particularly in hard-to-reach coastal and inland regions
FLIGHT PLAN FOR NAVIGATING BUSINESS AIRCRAFT FINANCING
The business aircraft financing market has witnessed significant growth post-pandemic, driven by increased demand for private and chartered flights