Airbus estimates that the Indian aviation market will need as many as 2,210 new aircraft in the next 20 years.
According to the latest 20-year Indian Market Forecast, presented by Airbus at Wings India 2022, a biennial Indian aviation event that took place on March 25, 2022, Indian airlines will require around 1,770 new small aircraft and up to 400 medium and large planes to fulfil the demand for air travel. The manufacturer predicts that passenger traffic in India is expected to grow 6.2% annually by 2040, ahead of the estimated global average of 3.9%.
The latest forecast is a significant increase from previous estimations made by Airbus in 2020. At the time, the manufacturer predicted that India would demand 1,880 new planes in the upcoming two decades, reflecting the growth initiatives of many Indian airlines.
Airbus predicts a demand for a total of 39,000 new passenger and freighter aircraft by 2040. This includes 29,700 small aircraft, such as the A220 and A320 family, plus around 5,300 in the medium aircraft category, which Airbus defines as planes like the A321XLR and the A330neo. Airbus predicts demand for 4,000 deliveries in the large category, such as the A350.
Airbus said it forecasts demand for around 2,440 freighters over the next 20 years, of which 880 will be new build. The planemaker also expects that the general cargo market should grow by 2.7% per year, while the express freight market will expand by 4.7%.