Boeing values India market for 1320 new aircraft at USD150bn
Boeing, in its outlook for India’s commercial aircraft market through 2030, forecasts (05-Jul-2011) a USD150 billion market for 1320 new passenger aircraft in India over the next 20 years as the economy aims for double-digit growth, stimulating strong demand for new and replacement aircraft. Boeing India president Dinesh Keskar stated airline revenue and yields in India are up, but high inflation and volatile fuel prices will play a pivotal role in the health of the industry. Passenger traffic, which has reached 53.6 million domestic (fiscal 2011) and 13.1 million international, is expected to grow at 8.1% annually over the long term, according to Boeing. The manufacturer expects the biggest demand in the Indian market will be for single-aisle aircraft. In terms of the long-haul fleet, Boeing dominates this market, Mr Keskar said. [more]
Boeing: "India’s airlines have been growing rapidly by taking advantage of geography, demographics, airplane technology and well-coordinated growth and investment plans. Some carriers, like Air India also are looking for replacement airplanes as they retire ageing and less-efficient jets. Boeing predicts that India-based airlines also will grow by responding to passenger preference for more flight choices, lower fares and direct access to a wider range of destinations. Air carriers will focus on offering more flights using more efficient airplanes, instead of significantly larger airplanes," Company Statement, 05-Jul-2011.
Boeing: "Robust growth with new economic prosperity amongst a massive Indian population, discretionary incomes, business progress and access to airports will increase airplane demand. In 2011, the economy continues to do well. Indian air carriers are becoming profitable and we expect the GDP to maintain its upward trend in the long-term. As a result, both the air travel and air cargo markets will grow ... The economic and air-traffic growth will in turn stimulate demand for a variety of aircraft types. The need is great for new airplanes that can efficiently and profitably fly short and long-haul routes. This demand is driven by growth in developing and emerging cities, demand from low-cost carriers and the need to replace an aging fleet,” Dinesh Keskar, India President. Source: Company Statement, 05-Jul-2011.