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India to need 1,740 new airplanes over next 20 years

Releasing the annual India Current Market Outlook (CMO), Dr Dinesh Keskar, Senior Vice President, Asia-Pacific and India, Sales, Boeing Commercial Airplanes, highlighted that the domestic passenger traffic in India is at the highest level. The domestic load factor has increased from 74.4 per cent during the January-June, 2014 to 83.6 per cent in during January to June 2015.

More than 66.4 million domestic passengers flew by air in 2014 and domestic passengers have increased by 21 per cent in the first six months of 2015. Moreover, we expect this year to end with 75 million domestic passengers, said Keskar, while addressing a press conference yesterday at The Imperial, New Delhi.

Keskar projected a worldwide demand for 38,050 new airplanes over the next 20 years, with India carriers needing more than 4.5 per cent of the total global demand during the period. Throwing light on the future demand, Keskar predicted that airlines in India will need 1,740 new airplanes valued at USD 240 billion, over the next 20 years (as per sources).

“The Indian economy continues to be strong and will emerge as the third largest economy by 2034. The traffic is poised to grow and India cannot be ignored. There is a huge potential for growth and we hope that the upcoming civil aviation policy will give the much needed push to the untapped segment of regional connectivity. As per our outlook for the next 20 years, we expect India to comprise 4.6 per cent of the global market,” he stated.

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