India to be world’s most significant new aircraft mkt: Barclays

With one of the highest traffic growth rates in the world, India is the focal market for the global aerospace and defence industry and the world’s most significant new aircraft market, Barclays said in a report. India is currently the third largest aviation market in the world, only behind the US and China, in terms of domestic traffic.

“The growing middle-class population with an increased propensity to travel stimulated by a government initiative through the UDAN Regional Connectivity Scheme has made India a key source of demand for new aircraft,” the brokerage said.