Boeing Company said it expects Indian airlines to order 1,850 new aircraft worth $265 billion over the next 20 years. In March, the company had projected that demand from India would add up to orders for 1,740 planes over 20 years.
This will make India contributing to over 4.6 percent of the global demand for 39,620 airplanes by 2035, and 4.5 percent of world demand in terms of value, Keskar said, adding these new planes will continue to support growth of low-cost carriers and replace older ones.
Boeing says it has more than 85 percent share of the wide-body airplane market in India, while competitor Airbus sells the bulk of small planes preferred by low-cost carriers (LCCs) such as InterGlobe Aviation’s IndiGo.
Domestic carriers like the largest player IndiGo, GoAir and SpiceJet have been ordering new planes in the hope demand will stay strong and the country will become the third-largest civil aviation market in the world after China and the US by 2026.
IndiGo has placed an order for 240 planes, the largest in aviation history, from Airbus.
“India continues to have a strong commercial aerospace market and the highest domestic traffic growth in the world,” said Dinesh Keskar, senior vice president, Asia Pacific and India sales at Boeing Commercial Airplanes.
“With the new aviation policies in place, we even see greater opportunities, and remain confident in the market and airlines sector in India,” Keskar said adding “Lower fuel prices, economic expansion, competitive fares and rising incomes of the large middle class are helping boost air-travel demand.”
LCCs dominate Indian skies and account for more than 60 percent of the flights in the country.
The upbeat outlook comes after the country’s domestic air traffic grew 18.8 per cent in 2015 to 80 million, which is the fastest in the world, as per the latest IATA numbers.
While refusing to share its market share in India, Keskar told PTI, “Currently, as many as 240 Boeing planes are in service in the country. We also continue to be the preferred choice for wide-body airplanes here with over 85 percent of the market share.”
Impact on career in aviation
- Boeing announced 1,820 new airplane order in next 20 years till 2035.
- Global demand is 39,620 airplanes by 2035.
- I,820 new aircraft will generate job in Lakes.
- Indian aviation industry contributing to over 4.6 % share of global market.
- As career aviation industry is the hottest career in India & world wide.