Boeing has projected a demand for 2,100 new airplanes in India, valued at $290 billion, over the next two decades.
The new numbers were released as part of its Current Market Outlook (CMO) for India at a media briefing in Delhi.
Single-aisle airplanes from the 737 MAX family will dominate a large share of new deliveries. Boeing also predicts that airlines in India will require 1,780 new aircraft in the coming 20 years.
“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. The 737 MAX is the fastest-selling airplane 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 airplanes, as evidenced by our more than 85 percent in-service market share in India,” says Dinesh Keskar, senior vice president, Asia Pacific and India Sales at Boeing Commercial Airplanes.
It has also included other important findings in its annual outlook with regards to the Indian aviation industry:
- Traffic growth in India is observed at more than 20 per cent, exceeding the global average of 7.3 per cent.
- Domestic passenger traffic has grown by 23 per cent from last year.
- India’s budget airlines continue to account for more than 60 per cent of all flights.
Boeing projects a global demand for 41,030 new airplanes over the next 20 years, with Indian carriers accounting for more than 5.1 per cent of this.