Boeing’s 20-year outlook suggests $290 billion worth of airplanes will be needed in India.
Boeing forecasts a demand for 2,100 new airplanes in India, valued at $290 billion, over the next 20 years. The company released the new numbers as part of its annual Current Market Outlook (CMO) for India during a briefing in Delhi.
“Commercial aerospace demand in India continues to grow at unprecedented rates,” said Dinesh Keskar, senior vice president, Asia Pacific and India Sales, Boeing Commercial Airplanes.
He added: “The increasing number of passengers combined with a strong exchange rate, low fuel prices and high load factors bodes well for India’s aviation market, especially for the low-cost carriers.”
Single-aisle airplanes, like the 737 MAX family, will continue to account for the largest share of new deliveries, with airlines in India needing approximately 1,780 airplanes.
Other key findings from the annual outlook include:
- Traffic growth in India is more than 20%, far exceeding the global average of 7.3%
- Domestic passenger traffic increased 23% from 2016
- Low-cost carriers continue to account for more than 60% of all flights
New airplane deliveries to India: 2017-2036
|Airplane type||Seats||Total new deliveries||Dollar value|
|Regional jets||90 and below||10||<$1B|
|Single-aisle||90 – 230||1,780||$195B|
|Small widebody||200 – 300||180||$50B|
|Medium/Large widebody||300 and above||130||$45B|
(5.1% of world total)
(4.8% of world total)
Boeing projects a worldwide demand for 41,030 new airplanes over the next 20 years, with India carriers needing more than 5.1 percent of the total global demand.