Description

Economic reforms and increased foreign direct investment has contributed to higher economic growth and personal disposable income in India. Changes in civil aviation policies have lead to increase in number of private airlines and competition and an increase in the domestic air passenger traffic. Booming outsourcing and medical tourism are some of the factors contributing to rising trend in international air traffic. Growth in the volume of trade with Asia, Europe and North America has resulted in an increase in the air freight traffic. The defense budget is analyzed in detail and forecast for the defense spending is provided. This research analyses the economic trends and their implications for aerospace and defense industry.