BOEING AND AIRBUS PREDICT INDIA NEEDS MORE THAN 1290-1600 AIRCRAFT IN NEXT 20 YEARS

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By TESTCustomwebLP TESTCustomwebLP March 13, 2014 15:31

BOEING AND AIRBUS PREDICT INDIA NEEDS MORE THAN 1290-1600 AIRCRAFT IN NEXT 20 YEARS

Boeing and Airbus have both released their predictions for the Indian aviation market.

According to Airbus’ latest market forecast, Indian carriers will require 1,290 new passenger aircraft valued at US$190 billion between now and 2032 to satisfy surging annual demand.

Boeing forecasts India needs 1,600 new aircraft worth $205 billion over next 20 years. Last year’s forecast was 1,450 airplanes at $175 billion.

Airbus adds that the region will mainly require 73% of that 1,290 for growth and 27% for replacement aircraft and by 2032, 36% of India’s fleet will be widebodies, double what it is today due to increased capacity of international as well domestic routes with larger aircraft like the A330 and A350s.

In passenger traffic terms, Airbus states that domestic India is the fastest growing flow increasing at almost 10% per year to 2032. In 2032, India domestic traffic will be the world’s third largest domestic market. In addition, five of the world’s top 20 fastest growing flows, connect India. Today one in 20 Indians travel by air and in 2032 this will increase fivefold to a quarter of the population taking at least one flight. Along with China, more people will experience the benefits of aviation for the first time in India than anywhere else.

“By 2032, the number Indian cities with more than a million passengers every month will have grown to 13 from today’s two. This exponential growth will continue to drive the need for larger aircraft like the A380 to operate in the country.” said Dr. Kiran Rao, Airbus EVP Strategy and Marketing. “As the people of India fly more and the number of first time flyers increases, demand for the latest generations of aircraft will also increase making India on of the largest and most dynamic markets in the world.”

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By TESTCustomwebLP TESTCustomwebLP March 13, 2014 15:31
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