Airbus predicts $255B aircraft demand in India by 2036
India will require 1,750 new passenger and cargo aircraft over the next 20 years to meet an exponential rise in both passenger and freight traffic, according to Airbus’ latest India Market Forecast. To help meet this growth, India will need 1,320 new single-aisle aircraft and 430 widebody aircraft valued at $255 billion.
While much of the air traffic growth is expected to be driven by the fast expanding economy, rising wealth and urbanisation, ambitious government-backed regional connectivity programmes are also set to enhance demand for air travel. By 2036, Indians will each make four times as many flights as today. As a result, traffic serving the Indian market is forecast to grow 8.1 percent per year over the next 20 years, almost twice as fast as the world average of 4.4 percent.
Domestic Indian traffic is expected to grow five-and-half times over the next 20 years (2017-2036) reaching the same level as U.S. domestic traffic today, making it one of the world’s fastest growing markets.
"Make in India is at the heart of our strategy. Airbus has the largest footprint in India of any international aircraft manufacturer, nationwide across all aircraft programmes. Our sourcing volume has grown 16 times over the past 10 years and it is currently at more than US$550 million annually,” said Srinivasan Dwarakanath, President – Airbus Commercial Aircraft in India.
Airbus currently has backlog orders of over 530 aircraft in India, which is set to become the world’s third-largest aviation market by 2019/2020.
American Airlines bullish on demand even after Delta variant hits Q3 recovery
American Airlines is confident about travel demand, even after the spread of the Delta variant pushed the airline into a...
Federal aid helps Southwest Airlines to post Q3 profit
Southwest Airlines reports a net income of $446 million in the third quarter of 2021....
Alaska Airlines regains profitability in Q3 2021
Alaska Airlines reported a net income of $187 million in the third quarter of 2021....