The aviation sector is one of the most significant sectors as it contributes to the economic growth of the nation by facilitating tourism and trade, two important generators of national income.
This sector enables us to be able to overcome the geographical barriers between states, countries or continents. In terms of employment, this industry is truly rewarding.
The country is focusing on modernization of the aviation industry which involves construction of new airports and modernization of existing ones, airport connectivity infrastructure development, modern air navigation system development and devising ways to reduce cost and yet provide modern aviation facilities at various small cities. This upgradation indicates the growing potential of this domain. With a huge no. of new aircrafts being added and services being made available through a wider network, the employment opportunities also rise and so does the need for next generation aviation professionals.
India is a prospective global center for Maintenance, Repair, and Overhaul (MRO) and manufacturing because of its engineering workforce, world class engineering services, and research and development skills.
- Aviation industry is a major contributor to the country's economy.
- India is projected to be the third largest aviation market by 2020.
- India is expected to add around 370 aircrafts by the year 2017.
Segments of Indian Aerospace Sectors
According to the statistics of 2008-2009,India ranks ninth (Formerly at twelfth position in 2006) in world’s aerospace scenario. The commercial airlines in India have seen a growth of 25% annually, in the passenger travels. The Government estimates suggest that by 2025, the growth of Indian Aerospace industry will outpace the world’s average.
If sources are to be believed, India will shell out additional USD 35 million for military aviation, considering the upgrade of old fleet. An estimate to purchase 500 helicopters, by the Indian Air Force, is already in process.
The Indian Space Research Organization (ISRO), undertaking of Department of Space, Government of India, carries Indian space programme, which includes:
- Developing and operating Satellites
- Launching Vehicles and Grounding Systems
- Research and Development on applications related to remote sensing, metrology, space sciences and communications.
India spends more than USD 6 million annually on science budget and is estimated to increase their investment in science by 16% in the coming years. The Indira Gandhi Airport, New Delhi is considered as one of the best airports in the world.
Therefore, the aviation industry has a lot to offer and exceeds other sectors when it comes to pay scale and growth potential.
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