Aluminium alloys market foreseeing a boost as IATA says India will see maximum flyers in 2017

India will see maximum people flying with commercial air carriers in 2017 surpassing the biggest ones till now including UK, Germany, Japan and Indonesia, International Air Transport Association (IATA) data shows. This will provide the much needed traction to the annual delivery of commercial aircrafts in the country propelling the domestic aluminium alloys market eventually.

Globally too, aluminium alloys market is looking up. According to IATA, number of flyers witnessed a steep increase from less than 3 billion in 2011 to more than 3.7 billion in 2016. This number is forecasted double over the next two decades. In 2016, U.S., China, and UK accounted for majority of the total with more than 1 billion flyers.

Aluminium alloys market is dependent primarily on the availability of aluminium along with other alloying materials such as zinc, copper, magnesium, manganese, and tin. Price volatility of the light metal owing to its versatile application profile in the end-user industries may somewhat pose hindrances to the global aluminium alloys market growth; but with the BRICS nation investing in major infrastructure overhaul projects, the overall surge in demand is expected to conveniently cover the risk of rising costs.

In a recent interview, Dieter Vranckx Vice-President, Asia Pacific, Lufthansa Group said, "Our plan for India is to continue investing in the country" ... "Most of the time you look at strategic markets and a balance between the US, China and India and see how everything fits together. Out of the first three Airbus A350s that came in, two of them now fly to India. This is how we grow in the market."

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Tata Sons-Singapore Airlines JV Vistara is also looking to grow its commercial ties with British Airways (BA) as it prepares to launch overseas flights next year.

India is gradually shifting its focus towards investments for industrial developments in order to create job opportunities and keep pace with its rising population and increasing urbanization. Government initiatives to develop the commercial aircraft parts manufacturing within the country will further catalyse the aluminium alloys market growth, opine industry experts.

According to the latest MarketsandMarkets report, the global aero-structures market is projected to grow from US$52.17 billion in 2016 to US$75.97 billion by 2022, at a CAGR of 6.47 per cent during the forecast period.