India Will Need 2300 New Airplanes Through the Year 2037: Boeing

CITING THE long-term forecast for commercial airplanes in India through year 2037, Dr Dinesh Keskar, Senior VP, Asia Pacific & India Sales, Boeing Commercial Airplanes, said that the surge in domestic passenger traffic and hence the increase in the number of low-cost carriers (LCCs) in India, is pointing to a need of 2.300 aircrafts valued at USD 320 bn over the next 20 years.

“To meet this increased domestic air traffic growth, we see the vast majority of available airplane seats coming from LCCs,” said Dr Keskar in a statement issued by the company. “The success of this market segment will mean more than 80 per cent of all new airplane deliveries in India will be single-aisles. And the superior economics and fuel efficiency of the new 737 MAX airplane will be the perfect choice for Indian carriers.”

The statement further read, this year alone, more than 10 mn passengers, on average, travelled within India each month. Dr Keskar said that increase in tourism within the country has led to the surge in passenger traffic recorded by airlines here.

In the South Asian market, including India, Boeing forecasts a commercial services market valued at USD 430 bn over the next 20 years.

According to Boeing’s Commercial Market Outlook (CMO), India’s commercial aviation industry has achieved 50 consecutive months of double-digit growth. This growth is matched in other sectors of the country’s economy and is expected to significantly help grow India’s long-haul international market.

“The Indian economy is projected to become the third largest economy in the world over the next two decades,” said Dr Keskar. “This will continue to drive the growth of India’s middle class and its propensity to travel both domestically and internationally, resulting in the need for more new fuel-efficient short- and long-haul airplanes,” he added.

Formerly known as Boeing's Current Market Outlook, the CMO is the longest running jet forecast.