The import of aircraft parts to India is projected to decrease gradually from 2024 to 2028, showing a year-on-year decline. The forecast for 2024 is $614.77 million. The forecasts for subsequent years indicate declining values, with $586.94 million in 2025, $559.68 million in 2026, $532.96 million in 2027, and $506.77 million in 2028. Comparing the actual data from 2023 to the forecasted data reveals a noticeable downward trend. The year-on-year decrease indicates a consistent contraction of approximately 4.57% annually based on the last calculated Compound Annual Growth Rate (CAGR).
Future trends to watch for include potential impacts from changes in the global aviation industry, fluctuating fuel prices, advancements in aircraft technology, shifts towards sustainable aviation, and changes in government policies related to aviation imports and taxation.