Boeing expects India to have a demand for more than 2,200 new airplanes valued at nearly US$320 billion over the next 20 years, with the demand fuelled by a growing economy and an expanding middle class.
“Although the Covid-19 pandemic sharply reduced Indian air travel last year, the country’s domestic passenger traffic is recovering more rapidly than in most other countries and regions, recently reaching 76 per cent of pre-pandemic levels,” David Schulte, Boeing Commercial Airplanes’ managing director of regional marketing, said at a press conference while releasing the India forecast today.
While Covid-19 remains a near-term challenge, the country’s passenger traffic is forecast to outpace global growth, doubling from pre-pandemic levels by 2030, the company added.
“Many more Indians will travel by airplane for leisure and business as incomes rise tied to industrialization and an economic growth rate in South Asia that leads all emerging markets,” Schulte said.
In India, single-aisle airplanes will continue to serve growth in domestic as well as regional markets. Indian operators will need 1,960 new single-aisle airplanes over the next 20 years.
To meet long-term demand for long-haul connectivity, especially to North America and Europe, Boeing forecasts a 20-year market for 260 new widebody airplanes.
“With greater demand for domestic, regional and long-haul travel, we anticipate India’s commercial fleet will grow fourfold by 2039, ” Schulte said.
India air cargo, meanwhile, will grow 6.3 per cent annually over the coming two decades, driven by the country’s rising manufacturing and e-commerce sectors.
Boeing also said India’s civil aviation industry will require nearly 90,000 new pilots, technicians and cabin crew personnel during the 20-year forecast period, with a growing number of women choosing to pursue aviation careers.
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