The Indian aviation industry had been reeling under a severe crisis since the November 2015 earthquake and tsunami.
Its aircraft industry is struggling with low orders and the lack of a clear strategy to improve the sector.
Now, with an ambitious plan for reviving the sector and investing billions in new aircraft, the government hopes to turn the fortunes around.
The revival of the Indian aviation sector, according to a recent report by the Aviation Industry Council of India (AICI), is one of the biggest opportunities for the aviation industry in the world.
The report is the culmination of years of research and planning by the aviation sector.
The AICI says that the sector has recovered from the catastrophic earthquake and is projected to recover to $100 billion in the next 10 years.
It expects the sector to become a $50 billion-a-year industry within 10 years from the end of 2020.
The government has already spent about $500 million to revive the aviation fleet and hopes to invest an additional $100 million to boost the sector over the next decade.
AICi, which has been working with the Ministry of Civil Aviation and Ministry of Shipping on reviving and diversifying the sector, estimates that it would cost at least $500 billion.
According to the AICA, the sector will see a surge in new orders, as the country moves to build up the fleet.
“The new orders that we expect from the Indian Aviation Industry (IAI) will be around $200 billion,” said AICF Vice President (Plan) Ravi Sood.
“We expect that the growth of the aviation business will be on the order of 3 percent per annum in the period 2019-20.
This is a very good start.”
The aviation sector is still reeling under the devastating earthquake and the tsunami, which left more than 200,000 people dead in the country.
The disaster killed more than 30,000 workers and caused an estimated $4 trillion in damage.
But it also created jobs and created millions of jobs.
More than 5,000 airlines, which were set up and operated by the industry, have been created since the disaster.
The industry employs about 10 million people and has seen steady growth in the past five years.
According for the AICS report, the aviation boom has taken a hit since the crisis, as a combination of bad financial performance and poor financial management has made it difficult to recover from the crisis.
The economic recovery has slowed and is expected to slow further.
It also says that while the sector is not yet back to its pre-disaster levels, the revival plan could be seen as a positive development.
The industry was not immune from the disasters.
According to the aviation ministry, the number of disasters per million flights rose from 8.1 in 2014 to 22 in 2019.
The number of accidents rose from 16 in 2014, to 38 in 2019, according the ministry.
But the overall number of incidents has decreased in the years since.
In fact, accidents have been trending downwards since 2010.
The latest figures released by the ministry show that there were 6.25 accidents per million aircraft operated in 2019 and 6.8 accidents per thousand aircraft operated, an improvement from 5.96 accidents per flight in 2018.
The aviation ministry has attributed the drop in accidents to improved pilot training, better training of crew, and better communication.
In September 2019, a group of Indian aircraft manufactures filed a petition with the Supreme Court seeking an urgent extension of the moratorium on new aircraft orders.
The case has been pending for nearly a year now.
A few months ago, the Supreme Courts order on the moratorium expired, but there was a delay in the implementation of the order, which is why the AIAI has filed a similar petition.
“Airlines are not the only ones that are suffering.
There are many airlines, both domestic and international, which are struggling financially, which have to deal with a very difficult financial situation.
There is also the shortage of skilled pilots.
They are being used in the manufacturing sector and there is a shortage of qualified pilots,” said Ankit Jha, CEO of the India-based Aviation Consultants and Consultants Association (ACAI), which represents over 20,000 Indian aviation professionals.
“There is a huge lack of skilled labour in the aviation profession and we are witnessing a huge drop in the number and quality of pilots.
If we are to rebuild the industry we need to invest in the recruitment of skilled workers, trained pilots and experienced pilots,” he added.
In recent months, the AATAI has been busy with meetings with the ministry of aviation and other government agencies, including the aviation department, to gather information and suggestions for revamping the aviation economy.
It has also met with aviation industry associations, such as the International Air Transport Association (IATA), and representatives of industry and government.
In addition to the meetings, the ACAI has also been holding a conference with experts in aviation and the aviation industries, and has launched an online portal, where the industry can submit its proposals.