Indian Aircraft Market Worth $290 Bln Over 20 Years

Boeing has forecast demand for 2,100 new commercial aircraft in India over the next 20 years, worth USD$290 billion in sales.

The forecast, part of Boeing’s Current Market Outlook for India, forecast traffic growth at more than 20 percent, with low cost carriers accounting for over 60 percent of flights.

“Commercial aerospace demand in India continues to grow at unprecedented rates,” Boeing SVP Dinesh Keskar said. “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 aircraft will continue to form the largest segment of sales to India, with a forecast of just under 1,800 planes as low cost carriers continue to grow rapidly.

The wide-body segment of the market will see orders for 310 aircraft.

Boeing forecasts the Indian aircraft market to make up about 5 percent of worldwide sales of 41,030 aircraft over the next 20 years.