Technology has changed the way the aviation industry operates — be it drones, AI, or ML — and that creates huge opportunities, said Satyaki Raghunath, Chief Strategy and Development Officer, BIAL.
Addressing the ‘Future of Aerospace and Aviation Conference’ hosted by IIM Bangalore and Bangalore International Airport Ltd with Toulouse Business School France, Raghunath said: “Challenges like regulatory policies among other things, should also prevent airlines from folding up.
The dearth of talent is another challenge – the sector is struggling to find the right talent. It is going to be incumbent on all of us to find and deploy the right talent. Third, from an urban growth perspective, in an emerging market especially, where workers migrate when opportunities arise, our primary cities need to gear up in terms of urban planning – providing facilities and transport for the people who migrate for work.”
He said that with India set to become the third busiest aviation market in the next 5-7 years, it is certainly a huge opportunity for MROs (maintenance, repair and overhaul), cargo, logistics, tourism and travel.”
S Raghunath, Director, General Management Programme for Aerospace & Aviation Executives at IIM Bangalore, said the aerospace industry is under pressure both from a slowdown in the sector as well as the threat of the coronavirus pandemic.
The silver lining, he observed, was domestic travel in India.
“These are interesting times for regional connectivity. The government is trying hard to restart the engines of the economy. Connectivity through aviation will take knowledge workers to regional hubs and improve rural logistics, even for healthcare service providers, apart from giving a boost to tourism,” he explained.