India Business Aviation Market is Expected to Reach over USD 790 Million by 2024: Ken Research

Ken Research reveals how the future of Business Aviation sector will change with the Advent of Fractional Ownership Business Model and Introduction of New Revenue Streams such as Seaplanes and Aerial Surveys and main streamlining of Helicopter Emergency Medical Services

• Change in Regulatory Catalog to allow Different Operator-Owner Business Model: Coming 5 years would witness a drastic change in business model among which fractional ownership & aircraft management would prove to be a win-win engagement for both, service provider and the customer. It would essentially require different owners and operators of an aircraft. This would allow an aircraft’s cost and utility to be divided into numerous owners hence, allowing more number of people to acquire this service.
• It is expected that by 2030, the fleet size of helicopters would expand at a CAGR of close to 12% while Bizjets would grow registering a CAGR of 11% during 2018-2030. The General Election, UDAN Regional Connectivity Scheme’s provision of expanding provincial connectivity through helicopters along with expansion in demand for oil-related offshore operations being carried out using helicopters would contribute to this development.
• Air Ambulance would intercede India’s emergent Helicopter Emergency Medical Services Operations and would hence, attract global service providers. This shall be accompanied by changes in regulations, infrastructure, taxes and inclusion of air medical services in health insurance claims.
• In the coming five years business aviation would find new applications in various fields including aerial survey, aerial photography, crop spraying/dusting (agricultural pilots), banner towing, aerial display, aerial advertisement, law enforcement, border monitoring, power line or pipeline inspection & laying, offshore wind turbine farm maintenance, electronic newsgathering, and helicopter slung-load operations (HESLO).

Growth in India’s business aviation market size in future will be facilitated by simplification in documentation & licensing processes, development in aviation infrastructure with more number of airport & airstrips being built, expanding geographical presence of major players, up-gradation of technology and equipments, new marketing strategies, rise in HNI’s population and revenue stream diversification. The struggling nature has opened avenues for change in operating models, thereby laying huge potential for future growth. Operational precision, consolidated & synchronized compliance-controls amongst various analogous regulatory organizations, generalization & standardization bought in licensing & documentation and digitalization are some of the key changes expected in the regulatory framework in the coming five years. This shall require high level of engagement and coordination among compliance professionals. The Indian government has allowed for 100% FDI in the helicopter sector. It is expected to introduce more liberalization in the sector. BAOA and other associations have been advocating with the government to not look at business aviation as a rich man’s luxury. The growth in regional connectivity of the country through the UDAN RCS will be a major contributing factor. There could be an opportunity for players to enter with new and unique business models such as fragmented ownership. With more access to information through online charter services booking platforms, the target audience has more ease in booking charter flights. The growth of air ambulance and pilgrimage charter services will increase the use of business aviation planes & helicopters.

Ken Research in its latest study, “India Business Aviation Market by Revenue Stream (Aircraft Charter Income, MRO Services, Ground Handling, Aircraft Sales Commission and Hospitality Services (F&B) & Aviation Academy), by Fleet Type (Helicopters, Turboprops and Jets) and by Fleet Distribution” suggests that the growth key is in the hands of the Indian government to unlock infrastructural and policies barriers restraining the industry. This would lead the market to grow registering a CAGR of close to 6% during financial year 2019-2024.

For more information about the report, refer to below link:
https://www.kenresearch.com/automotive-transportation-and-warehousing/general-transportation/india-business-aviation-market/170612-100.html

Key Segments Covered
• Market Segmentation by Fleet Type (Helicopters, Turboprops and Jets)
• Market Segmentation By Revenue Streams (Aircraft Charter Income,
• MRO Services, Ground Handling, Aircraft Sales Commission Income, Hospitality Services (F&B) & Aviation Academy)
• Market Segmentation By Regional Variation in Registered Fleet (Western India, North India, Southern India, East and North East India and Central India)

Key Target Audience
• Existing Business Charter Companies
• New market entrants
• Charter Broker
• Aircraft financing companies
• Government bodies
• Investors
• Scheduled Airlines
• General Airlines
• Aircraft Original Equipment Manufacturer
• Helicopter Original Equipment Manufacturer

Companies Covered:
• Business Aviation Aircraft Operators: Air One Aviation Private Limited, Aircar Airlines Private Limited, Karnavati Aviation Private Limited, Air charter Service Private Limited, Airmid Aviation Services Limited, Ar Airways Private Limited
GMR Aviation Private Limited, India Flysafe Aviation Limited, Orbit Aviation Private Limited, Pinnacle Air Private Limited, Reliance Commercial Dealers Limited
• Business Aviation Helicopter Operators: Pawan Hans, Global Vectra Helicorp Limited and Himalayan Heli
• Third Party Business Aviation MRO Companies: Airworks MRO Services Private Limited and Indamer

Related Reports:
https://www.kenresearch.com/automotive-transportation-and-warehousing/general-transportation/india-ground-handling-services-market/155051-100.html

https://www.kenresearch.ae/automotive-transportation-and-warehousing/general-transportation/global-aerospace-market-research-report/125-100.html

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This release was published on openPR.