DUBLIN--(BUSINESS WIRE)--The "India Business Aviation Market Outlook to 2030 - by Revenue Stream, by Fleet Type and by Fleet Distribution" report has been added to ResearchAndMarkets.com's offering.
Business Aviation market has witnessed subdued growth primarily due to high operational cost, difficulty in ease of doing business, complicated tax structures, inadequate infrastructure and complex process to obtain operating licenses.
The industry has experienced a small positive growth rate in financial year 2018 primarily because of an increase in the number of HNI's and diversification of fleet size. Development of new and existing airports, stirring regulations, regional connectivity, persistent efforts of industry leaders in changing industry perception, growth in the oil industry, and the overall boom in the economy have also contributed to the increasing demand.
Increased use of private charters by High Net worth Individuals (HNWI), politicians, business executives, for oil transportation, development of infrastructure and air ambulance has helped the market to revive from a negative growth scenario. Major companies have diversified their revenue streams, entered into international affiliations and upgraded their aircrafts to foster the market demand.
The review period has witnessed an improved focus on developing the infrastructural facilities, expansion of company operations, regulatory liberalizations, leading to a gradual increase in demand and recovery of the market. There has been a significant increase and higher recognition by government to promote the business aviation sector. For instance, the industry has been included for the first time in the UDAN Regional Connectivity Scheme in 2018.
Future Analysis and Projections
Development of airports, manufacturing sector, oil and gas sector, tourism, air ambulance and pilgrimage sector, coupled with government liberalizations, connectivity schemes like UDAN RCS, the efforts of BAOA and the increase in HNIs in India will support the growth of the business aviation market.
Moreover, addition of secondary airports in Mumbai & Delhi, up-gradation of existing regional airport under the RCS scheme, changes in aircraft leasing & import regulations and favorable regulations for aircraft management companies would be other growth opportunities. Use of business aviation aircrafts and helicopters in fields whose potential has not yet been utilized such as seaplanes, aerial surveys, air ambulance, managing traffic, law enforcement and others are expected to open-up and provide boast to the revenue segments.
Market Segmentation
- By Revenue Streams: Air Charter Income has captured a major part, accounting for highest market share in financial year 2018. Major players focus on charter operations and outsource related services to other companies. MRO occupies second highest share with Mumbai being home to over 80% of the MRO facilities in the country. Ground handling followed by Aircraft sales commission and hospitality services (F&B) has been the third, fourth and fifth highest revenue streams respectively in 2018.
- By Fleet Type: Helicopters are the most demanded air-object type in the business aviation sector of India. It covers almost half of the market share in financial year 2018 in terms of fleet size. The inherent flexibility of helicopters makes it an appropriate choice for air ambulance, transportation, slung work, pilgrimage visits and for politicians during elections. Use of helicopters for off-site operations such as for oil & gas stations, ore sites, mineral traction and others have resulted in its big fleet size. Business jets have the second highest share, followed by turboprops. India operates the third largest fleet of business jets in Asia-Pacific. Business jets are preferred by corporate houses due to their comfort, luxury and connectivity features.
- By Region: The western and northern regions have been preeminent in registered fleet for business aircrafts. Delhi and Mumbai, two business and medical centers of the country, witness the highest demand. Dominance of huge number of wealthy individuals, major political movement and presence of renowned hospitals has led to such proportionate shares. They are also the base of a number of operators or aircraft management companies. Mumbai is also the home of the sole business aviation airport in India. East, northeast and central parts of India have a meager share. However, the situation is likely to change with the regional connectivity program of the government in the years to come.
Competitive Landscape
Competition in India business aviation market is fragmented with about 111 non-scheduled operators providing charter services, ground handling, aircrafts maintenance, training academies, MRO and other facilities. Each company is trying to expand its fleet size, regional presence and operational services to capture higher market share.
In financial year 2018, Reliance Commercial Dealers Limited, Reliance Transport and Travels, Poonawalla Aviation and Air Charter Aviation have been some of the major players in terms of fleet size. Global Vectra Hellicorp, Pawan Hans and Himalayan Heli are the main operators in the helicopter sector.
In terms of revenue, Reliance Commercial dealers, Air Charter Aviation, AR Aviation and Orbit Aviation have led the market. Delhi and Mumbai are the two dominant catchment areas. The major challenges faced by the companies include infrastructural limitations, stringent regulations, high taxation, high operating costs and preference to scheduled airlines.
Key Topics Covered
- India Business Aviation Market History
- India Business Aviation Market Value Chain
- India Business Aviation Market GDP Contribution
- India Business Aviation Market Overview
- India Business Aviation Market Size on the Basis of Revenue, FY'2013 - FY'2018
- India Business Aviation Market Challenges
- India Business Aviation Market Segmentation by Revenue Streams (Aircraft Charter Income, MRO Services, Ground Handling, Aircraft Sales Commission and Hospitality Services (F&B) & Aviation Academy)
- India Business Aviation Market Segmentation by End User Industries (Corporate FMCG, Infrastructure, Media and Entertainment, PE and Law Firms and Foreign Tourists)
- India Business Aviation Market Segmentation by Fleet Type (Helicopters, Turboprops and Jets)
- India Business Aviation Market Segmentation by Fleet Distribution Across India (North, West, South, East and Northeast and Central)
- Regulations in India Business Aviation Market
- Snapshots on India Business Aviation Market (Air Ambulance Market In India, Pilgrimage Charter Services In India, The Watershed Year (2007), Wichita - The Air Capital Of The World, Aircraft Leasing And Financing, Fuel Consumption By Business Aviation, Used Business Aircrafts Transactions, Aircraft Connectivity, Business Aviation In RCS (Regional Connectivity Scheme) And Private Jet Insurance)
- Competitive Scenario of India Business Aviation Market
- Market Share of Major Players in India Business Aviation Market
- Strengths and Weaknesses of Major Players in India Business Aviation Sector
- Company Profile of Major Players in India Business Aviation Sector
- Future Outlook and Projections in Business Aviation Market (FY'2019 - FY'2024)
- Growth Opportunities in India Business Aviation Market
- Future Market Segmentation of India Business Aviation Market
- SWOT Analysis of India Business Aviation Market
- Analyst Recommendations
Companies Mentioned
- AJM Jet Management
- Air Car Airlines Private Limited Company Financials
- Air Charter Services Private Limited
- Air One Aviation Private Limited
- Airmid Aviation Services Limited
- Airworks MRO Services Private Limited (Business Aviation MRO)
- BAOA
- Club One Air (AR Airways Private Limited)
- GMR Aviation Private Limited
- Global Vectra Helicorp Limited
- Himalayan Heli Services Private Limited
- Indamer Aviation Private Limited (Business Aviation MRO)
- India Flysafe Aviation Limited
- Invision Air
- Karnavati Aviation Private Limited Company Financials
- Ligare Aviation Engineering Private Limited Company Financials
- Orbit Aviation Private Limited Company Financials
- Pawan Hans Company Financials
- Pinnacle Air Private Limited
- Reliance Commercial Dealers Limited Company Financials
For more information about this report visit https://www.researchandmarkets.com/r/apjzxc
