India – a Land of Promise
India, with its large land mass and population, has long promised to be one of the world’s largest aviation markets. Given recent developments and a changing legal and regulatory framework, indications are that it shall, and in many respects, has begun to, deliver on this promise.
To date, approximately 700 commercial aircraft are VT (Indian) registered. Clearly, India has much potential for growth considering China, which has a similar population size, has over 3000 registered commercial aircraft and continues to grow. Outstanding orders for aircraft by Indian airlines stood at 800 aircraft before the recent Air India group order which added 470 more to the total. India has a larger pipeline for aircraft than any other country. By 2040, it is predicted the number of VT registered aircraft will rise to approximately 2500. The most striking prediction is that 1500 to 1700 will be ordered in the next 12 to 24 months with Air India’s order both being the first as well as the largest single aircraft order in aviation history.