Boeing forecasts demand for 1,740 new airplanes in India
The company released its annual India Current Market Outlook (CMO) in Mumbai, forecasting the South Asia region will have among the highest traffic growth around the world at 8.6 percent.
“Over the next 20 years, Boeing forecasts India will need 1,740 new airplanes worth $240 billion,” said Dinesh Keskar, senior vice president of Asia Pacific and India Sales, Boeing Commercial Airplanes.
“India’s economy and the country’s potential for air travel growth – both for leisure and business – continues to be strong and we remain confident in the Indian commercial aerospace market.”
The largest demand from airlines in India will be for single-aisle airplanes such as the Next-Generation 737 and new 737 MAX, while twin-aisle airplane demand, such as the 777 and 787 Dreamliner families will also continue. The number of low cost carriers is projected to grow to more than 30 percent of the total Indian market.
"The Indian market is highly competitive and airlines are adapting with added capacity, moderate pricing discipline and new business models, such as the growing number of low cost carriers,” said Keskar. ■