Wednesday, November 17, 2010

Asia-Pacific now the world's largest aviation market ..

In a clear signal of Asian domination, figures released by IATA show that the air passengers in Asia-Pacific region at 647 million surpassed North American passengers at 638 million. By the end of next year it will increase upto 1 billion while North American figures will shrink .. Indeed depressing news for Americans and their politicians but very much encouraging news for Asians. The interesting fact to note is that about 25% of the world air passengers, ie. about 650 million passengers flew within Asia Pacific markets . That definitely is something to be taken note of, of the growing business opportunities in Asia pacific as compared to the other business and tourist destinations of the world.

With the development of the first commercial prototype of a passenger plane by China last year and renewed efforts by HAL and NAL to develop indigenous technology, our over dependence on US and European aircraft manufacturers will decrease.


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