India and China would be among countries which would constitute the largest market for aircraft engines and their after-sale services, totalling a whopping US$1,700 billion, over the next two decades, a major manufacturer of jet engines has said. Delivery of 1,49,000 engines have been forecast over the next 20 years to power 68,000 new aircraft and business jets, London-based airplane engine maker Rolls Royce said in its latest market outlook. While the engines themselves would be worth US$975 billion, another US$700 billion has been estimated as the cost of after-market services, it said. Noting that fastest growing economies would be in Asia and Middle East, the study said domestic aviation markets in India and China would see a 9.8 per cent and 7.9 per cent per annum growth respectively. Compared to this, mature markets of Europe and North America would grow by 2.5 per cent per year.
Source: Deccan Herald