Boeing Raises Forecast For Indian Aircraft Demand

Boeing estimates that Indian carriers will need 1,740 new aircraft by 2034, valued at USD$240 billion, a senior company executive said.

Dinesh Keskar, senior vice president, Asia Pacific and India sales, said in a presentation that 84 percent of the new planes required would be single-aisle, while 15 percent would be wide-body aircraft.

The new forecast is above that made by Boeing last year, when it estimated Indian demand at 1,600 new planes worth USD$205 billion over 20 years.

India's aviation market is growing fast as more people start to fly and new carriers enter the market. Most players in the industry, however, are losing money, given high fuel prices and limited scope to raise fares.