Bombardier Inc. is looking into fast growing markets such as India to boost sales of their Cseries and Q400 narrow body planes after facing a trade row over sales to the U.S. and a tremendous competition with rival Boeing Co (NYSE: BA) India is one of the world’s fastest growing aviation markets. Last year, the government launched a scheme of regional connectivity to increase air connectivity to smaller towns and cities.
Last week, Bombardier finalized a deal to sell up to 500 Q400 aircraft to India’s SpiceJet which valued at $1.7 billion by list prices. This marks the largest single order to date which will enhance their presence in the country.
However, rival ATR is the market leader in turboprops and has also secured an order for 50 ATR 72-600 aircraft that is worth over $1.3 billion at list price. Still, Bombardier controls about 75% of the market and is co owned by other companies such as Leonardo SpA and Airbus SE.