Bombardier, the Canadian manufacturer of commercial aircraft and business jets, expects the business aircraft market in India, which has been on the decline since the last four years, to revive after the 2014 elections, according to Nilesh Pattanayak, regional vice-president (Asia-Pacific, business aircraft), Bombardier.
“Business aircraft is directly related to the economic growth in a company, GDP growth as well as proper profits. India had some challenges since the last few years. The business outlook had not been that positive and companies held back their decisions. We believe that there will be a revival at the end of the 2014 elections and 2015 is going to be a very strong year for business aircraft in India,” he told Business Standard.
Stating that Bombardier saw tremendous opportunity in India, Pattanayak said the company was expecting close to 5,000 business jet deliveries across the Asia-Pacific region, including 1,300-1,400 in India, over the next 17 years.
“The demand will be driven by economic growth, globalisation and the increase in the number of billionaires in these markets,” he said.
Bombardier is showcasing its wide-body Challenger 605 business jet, and its customer services and integrated after-market portfolio at India Aviation 2014 being held in Hyderabad.