This week at the Saudi Airports Exhibition, SAE 2023, GMR Cargo’s CEO provides an insight into the current industry trends and challenges.
This article will cover the details surrounding the insights on the aviation industry provided by GMR Cargo’s CEO during the SAE 2023.
SAE 2023 – GMR Cargo’s CEO Insights
To kick things off during SAE 2023, GMR Cargo’s Chief Executive Officer, Sanjiv Edward, did a speech during session two of the Global Aviation Issues conference.
As per the above infographic, Sanjiv began explaining about the opportunity that the industry currently has with both passenger and air freight traffic growing between 2019 to 2042 by 3.6% and 3.2% respectively.
Alongside this, the fleet in service in 2020 was a total of 22,880 aircraft and by 2042 is expected to grow to 46,560 aircraft with 40,850 new aircraft deliveries between 2023 and 2042. That’s an average of 2150 new aircraft deliveries per year.
Following on from the opportunities, Sanjiv explained the industries consolidation, primarily looking at India, where more than half of the domestic market share is controlled by just IndiGo alone, followed then by the TATA Group, which consists of Air India, Vistara and AIX Connect.
From this alone it is evident that India’s domestic market will be primarily dominated by these carriers, meaning the likes of SpiceJet, Akasa Air and other carriers will have a lot of competition to cope with.
GMR Group is the second largest private airport developer in the world with six airports in operations and two currently undergoing development. This equates currently to over 100 million passengers per annum and 310 routes across those airports.
At Delhi’s Indira Gandhi International Airport (DEL), GMR Group opened India’s first-ever fourth runway and Eastern cross taxiway, the expanded Terminal 1 and renovated the aprons, meaning that DEL can currently cope with 100 million passengers.
However, between 2023 and 2028, GMR Group will construct a new Terminal 4 and Terminal 3 Pier E at Delhi which will up the airports capacity to cater for up to 140 million passengers.
Did you know AviationSource has two newsletters? One covers the general news and analysis of the industry as a whole, and the other to do with emergencies that take place throughout the year! To subscribe to our General News Newsletter, CLICK HERE!
To subscribe to our Emergencies, Accidents & Incidents Newsletter, CLICK HERE!
Click the photo to join our WhatsApp channel so then you can stay up to date with everything going on in the aviation industry!