RISING SUN
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India and China would be among countries which would constitute the largest market for aircraft engines and their after-sale services, totalling a whopping $1,700 billion, over the next two decades, a major manufacturer of jet engines has said.
Delivery of 1,49,000 engines have been forecast over the next 20 years to power 68,000 new aircraft and business jets, London-based airplane engine maker Rolls Royce said in its latest market outlook.
Noting that fastest growing economies would be in Asia and Middle East, the study said domestic aviation markets in India and China would see a 9.8% and 7.9% per annum growth respectively. Compared to this, mature markets of Europe and North America would grow by 2.5% per year.
"Asia-Pacific will be by far the largest market for commercial aircraft" where airlines will require nearly 4,000 twin-aisled planes or 44% of the global deliveries.
"We predict deliveries of 8,020 twin-aisle aircraft from 2012-31, plus another 790 new-build freighter aircraft. 19,900 engines are needed to power these aircraft, worth $450 billion," it said, adding that the engine market for these planes represented 54% of the total commercial jet market.
The study said though the North American business jet market was the largest as "traditionally 70-80% of their aircraft" were delivered there, customers in Asia were "increasingly buying them".
Transaction Costs To Fall 75%, Says Cbec Chief
Delivery of 1,49,000 engines have been forecast over the next 20 years to power 68,000 new aircraft and business jets, London-based airplane engine maker Rolls Royce said in its latest market outlook.
Noting that fastest growing economies would be in Asia and Middle East, the study said domestic aviation markets in India and China would see a 9.8% and 7.9% per annum growth respectively. Compared to this, mature markets of Europe and North America would grow by 2.5% per year.
"Asia-Pacific will be by far the largest market for commercial aircraft" where airlines will require nearly 4,000 twin-aisled planes or 44% of the global deliveries.
"We predict deliveries of 8,020 twin-aisle aircraft from 2012-31, plus another 790 new-build freighter aircraft. 19,900 engines are needed to power these aircraft, worth $450 billion," it said, adding that the engine market for these planes represented 54% of the total commercial jet market.
The study said though the North American business jet market was the largest as "traditionally 70-80% of their aircraft" were delivered there, customers in Asia were "increasingly buying them".
Transaction Costs To Fall 75%, Says Cbec Chief
Its just a matter of time... we are approaching the great Heights slowly but steadily too.
