India needs over 1,290 aircraft worth US$190 billion in next 20 years
- First time Indian air travellers pushing growth
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.
Indian annual passenger traffic growth rates of 8.6 per cent are well above the regional Asia Pacific average growth rate of 6.1 per cent and the world average 4.7 per cent.
Commercial Aircraft NextGen Avionics Market 2016-2026
Of the requirement for 1,290 new aircraft, some 73 per cent will be for growth and 27 per cent for replacement. The new passenger aircraft include 913 single aisles like the A320 and A320neo Family, 322 twin aisles like the A350 XWB and A330, and 56 very large aircraft such as the A380. By 2032, today’s fleet of 343 aircraft will more than triple to some 1,233 aircraft.
By 2032, Airbus forecasts that 36 per cent of India’s fleet will be wide-bodies, more than doubling today’s level. This is a result of increased capacity of international as well domestic routes with larger aircraft like the A330 and A350s.
In passenger traffic term, domestic India is the fastest growing flow increasing at almost 10 per cent 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 five fold 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.”
Airbus has been fostering cooperation and helping the Indian aviation sector grown sustainably for over 40 years. Today, India produces parts for the full range of Airbus aircraft, and employs some 350 engineers in Bangalore. Airbus India directly and indirectly employs some 5,000 people in India contributing to all Airbus aircraft programmes. Airbus is India’s aircraft of choice winning over 60 per cent of new aircraft orders.
Source : Airbus, an EADS N.V. company (Paris: EAD.PA) - view original press release