Boeing: India To Buy 2,100 New Planes In Next 20 Years
August 01, 2017 15:09 PM
By Shakir Husain
NEW DELHI, Aug 1 (Bernama) -- Boeing has projected India will buy 2,100 new planes worth US$290 billion (US$1 = RM4.28) in the next 20 years to cater to its fast-growing air travel segment.
About 85 per cent of these will be single-aisle aircraft, the US aircraft manufacturer said in its Current Market Outlook report.
"The increasing number of passengers combined with a strong exchange rate, low fuel prices and high load factors, bode well for India's aviation market, especially the low-cost carriers," said Dinesh Keskar, Senior Vice-President for Asia Pacific and India Sales at Boeing Commercial Airplanes.
The Indian government's policy of boosting regional connectivity in the domestic market is seen helping demand for smaller aircraft and budget air travel in the country.
Boeing said Indian air traffic growth is more than 20 per cent compared with the global average of 7.3 per cent.
Domestic passenger traffic grew 23 per cent last year.
Low-cost carriers account for more than 60 per cent of all flights in the country, Boeing said.
Single-aisle airplanes will continue to account for the largest share of new deliveries, with airlines in India needing about 1,780 airplanes, Boeing said.
Indian aircraft purchases will represent 5.1 per cent of Boeing's projection of worldwide demand for 41,030 new airplanes over the next 20 years.