Boeing predicts India to require 2,100 new aircraft over 20 years
India is expected to require 2,100 new aircraft, worth $290bn, over the next two decades, according to a forecast by Boeing.
The forecast was released as part of the company's annual Current Market Outlook (CMO) for India.
Boeing Commercial Airplanes Asia-Pacific and India sales senior vice-president Dinesh Keskar said: “Commercial aerospace demand in India continues to grow at unprecedented rates.
“The increasing number of passengers combined with a strong exchange rate, low-fuel prices and high-load factors bodes well for India’s aviation market, especially for the low-cost carriers.”
Single-aisle aircraft such as the 737 MAX family will continue to have the largest share among new deliveries, with carriers operating in the Asian country requiring around 1,780 aeroplanes.
Keskar added: “The 737 MAX is the fastest-selling aeroplane in Boeing history, because customers throughout the world, including India, want its combination of performance, flexibility and efficiency.
“Boeing also continues to offer the most complete family of wide-body aeroplanes, as evidenced by our more than 85% in-service market share in India.”
The traffic growth in India is over 20% while the global average is only 7.3%. Domestic passenger traffic grew 23% last year while low-cost airlines continue to operate more than 60% of all flights.
Boeing estimates a global demand of 41,030 new aircraft over the next two decades, and India’s airlines would need more than 5.1% of this total worldwide demand.