HYDERABAD: India’s continued economic growth and its expanding middle-class will fuel demand across South Asia for 2,400 new commercial jets valued at nearly $375 billion during the 20-year forecast period, according to Boeing.
Sharing its annual South Asia and India Commercial Market Outlook (CMO) at Wings India-2022, Boeing said that South Asia’s air travel sector is dominated by the Indian market, which accounts for about 90 per cent of the region’s passenger traffic.
According to Boeing, single-aisle aeroplanes will increase their share of total aircraft demand to serve India’s vast domestic market and competitive regional market, which includes established carriers as well as start-up airlines. To improve and expand long-haul connectivity, especially routes from India to North America and Europe - carriers will continue to invest in versatile, fuel-efficient widebody aeroplanes, it said.
“We project robust demand for air travel in South Asia with carriers increasing services, and passengers feeling confident about travel to see family and friends and do business, as well as from air cargo,” said Dave Schulte, managing director, regional marketing, Boeing Commercial Airplanes.
Indian operators will need just over 2,000 new single-aisle aeroplanes to meet demand during the forecast period and single-aisle aeroplanes such as the 737 family will continue to serve growth in domestic and regional markets, including flights from India to the Middle East and the Asia Pacific regions, according to Boeing.
As per their insights, Indian carriers will need 240 new widebody aeroplanes such as the 787 Dreamliner to meet long-haul demand. Boeing forecasts demand for more than 75 freighters, including 10 widebodies and 737 Boeing Converted Freighters. India’s civil aviation industry will require close to 1,00,000 new pilots, technicians and cabin crew personnel, with an increasing number of women pursuing aviation careers, it added.