Boeing raised its long-term forecast for commercial airplanes
in India as unprecedented domestic passenger traffic and
rapidly expanding low-cost carriers (LCCs) drive the need for 2,300
new jets – valued at $320 billion – over the next 20
years.
This year alone, more than 10 million passengers, on average,
traveled within India each month.
"To meet this increased domestic air traffic growth, we see the
vast majority of available airplane seats coming from LCCs," said
Keskar. "The success of this market segment will mean more than
80 percent 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."
According to Boeing's Commercial Market Outlook
(CMO), India's commercial aviation industry has
achieved 51 consecutive months of double-digit growth. This
growth is matched in other sectors of the country's economy.
"The Indian economy is projected to grow by nearly 350 percent
over the next two decades to become the third largest economy in
the world," said Dinesh Keskar, senior vice president of
Sales for Asia Pacific and India, Boeing
Commercial Airplanes. "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."
|
New Airplane Deliveries to India
through 2037 by size
|
|
|
|
Airplane type
|
Seats
|
Total deliveries
|
Market value
|
|
Regional jets
|
90 and below
|
10
|
<$1 billion
|
|
Single-aisle
|
90 and above
|
1,940
|
$220 billion
|
|
Widebody
|
200 and above
|
350
|
$100 billion
|
|
Total
|
|
2,300
|
$320 billion
|
With more than five percent of the world's fleet expected to
operate in India by 2037, services will continue to be
a major driver of growth in the region's commercial aviation
industry. Commercial services such as flight training,
engineering and maintenance, digital analytics among others will
provide airlines with optimal operational efficiencies as they
continue to expand to meet growth in the marketplace. In the
South Asian market, including India, Boeing forecasts a
commercial services market valued at $430 billion over
the next 20 years.
Formerly known as Boeing's Current Market Outlook, the CMO is the
longest running jet forecast and regarded as the most
comprehensive analysis of the commercial aviation industry. The
full report can be found at www.boeing.com/cmo.
