Bangalore, Mar 9 (UNI) The Indian Aerospace Industry is likely to cross 100-billion dollar mark by 2017, making it an important player in the global aerospace market comprising military, civil and space, Confederation of Indian Industry (CII) Karnataka Vice Chairman A K Saxena said today.
Presenting a paper on 'Vision 2015 -- Karnataka, a Global Aerospace Hub' at the CII Annual Members Day here he said that it was predicted that Indian Aerospace would lead the global market in the next 20 years.
''India would take up a significant role in the growth of aerospace technologies, in the coming years,'' he said.
He said that in the field of civil aviation, both in passenger and cargo, the growth would be five-fold in the next 20 years.
According to Airbus 2006 Global Market Forecast, the prediction was that India would have an average annual passenger traffic growth of 7.7 per cent by 2025. The current passenger growth was 17 per cent and cargo was growing at 24 per cent per annum, he added.
UNI
Presenting a paper on 'Vision 2015 -- Karnataka, a Global Aerospace Hub' at the CII Annual Members Day here he said that it was predicted that Indian Aerospace would lead the global market in the next 20 years.
''India would take up a significant role in the growth of aerospace technologies, in the coming years,'' he said.
He said that in the field of civil aviation, both in passenger and cargo, the growth would be five-fold in the next 20 years.
According to Airbus 2006 Global Market Forecast, the prediction was that India would have an average annual passenger traffic growth of 7.7 per cent by 2025. The current passenger growth was 17 per cent and cargo was growing at 24 per cent per annum, he added.
UNI
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