BUSINESS AVIATION DRIVERS IN EMERGING MARKETS

India's business aviation sector is on the cusp of rapid growth, driven by new ownership models, rising private air travel demand, and emerging technologies, despite infrastructure and regulatory hurdles, highlights RASHEED KAPPAN

- RASHEED KAPPAN

For years, the big story has been the robust growth in commercial aviation. But even as this India story found its echo in many emerging markets worldwide, business aviation remained a laggard. This is finally changing, with accelerated upgrade of small airports, air-linked tourist hotspots and a rising demand for point-to-point travel and quicker journey times.

Despite the low base, India has one of the largest fleets of charter aircraft in Asia. Mid-sized private jets such as the Falcon 2000 and Cessna Citation XLS are among the private jets that operate in the country. But the growth potential is massive, since the combined fleet of business jets and turboprops does not exceed 250. Global aviation watchers assert that the industry is at the cusp of an unprecedented growth in many emerging markets.

Driving the demand is the emergence of whole new businesses and individuals entering the business aviation market. Fractional ownership, where multiple corporations or individuals share the cost of owning a plane and maintaining it, is gaining ground. Other concepts, such as leasing and jet card programmes, are also keeping up with the industry's demand.

But big challenges and restraints have kept the industry's growth in check. Both new and existing operators in the business jet market have faced obstacles in aircraft maintenance costs. Part of the problem is repairs and replacement of parts, all of which can break out unexpectedly, triggering cascading issues. There are no ways to skip these, since regular maintenance is critical to ensure safety, airworthiness and passenger comfort.

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