NEW DELHI: Boeing has forecast a demand for 2,100 new airplanes in India, valued at US$290 billion, over the next 20 years.
Boeing expects single-aisle airplanes, like the B737 MAX family, will continue to account for the largest share of new deliveries, with airlines in India needing approximately 1,780 airplanes.
“Commercial aerospace demand in India continues to grow at unprecedented rates,” said Dinesh Keskar, Senior Vice President, Asia Pacific and India Sales, Boeing Commercial Airplanes. “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.”
Other important findings from the annual outlook include – traffic growth is more than 20 per cent, far exceeding the global average of 7.3 per cent; domestic passenger traffic increased 23 per cent from 2016; and low-cost carriers continue to account for more than 60 per cent of all flights.
“The B737 MAX is the fastest-selling airplane in Boeing history because customers throughout the world, including India, want its combination of performance, flexibility and efficiency,” said Keskar. “Boeing also continues to offer the most complete family of widebody airplanes, as evidenced by our more than 85 per cent in-service market share in India.”
Boeing projects a worldwide demand for 41,030 new airplanes over the next 20 years, with India carriers needing more than 5.1 per cent of the total global demand.