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New Delhi: According to Boeing, India's commercial aviation sector is set for extraordinary growth, with the company estimating that the country's fleet will expand almost four times in the coming 20 years. The Indian economic growth, demand for air transport facilities, and an expanding middle class have all contributed to the country’s reputation as one of the Aviation sector’s most promising emerging markets.
Aircraft Requirements in India
India is poised to capture a significant share of global aviation, as Boeing believes that Indian airlines will require around 2835 new commercial aircraft by the year 2043. Low-cost domestic air travel is expected to be the growth engine, as new LCCs (Low-cost CTel Corporation) enter the market. With a 7% annual growth in air traffic, India’s position in global aviation will further strengthen. The market for new mid-range single–aisle plane deliveries dominated by the Boeing 737 MAX is expected to cover almost 90% of the forecasted deliveries, making these single-aisle, short-and-medium range, narrow-bodied jets economically favorable for Indian airlines.
Since the liberalisation of air travel regulations, India's economic growth and rise in income has made air travel much more accessible to the public, even to regions that are considered remote. The Centre’s investment in new airport infrastructure and the UDAN scheme has made substantial improvements to regional connectivity and the development of smaller airports in India.
Additionally, the increase in international investments made by leasing firms has brought new aircraft to the Indian market, enabling Indian airlines to improve their fuel economy and save on operational expenses.
Widebody Aircraft for International Growth
India’s fleet of widebody aircraft is expected to quadruple in the next two decades. These single aisle planes are typically used for domestic flights, however there has been an increase in demand for long-haul international travel to North America and Europe which is aiding in the expansion of the widebody aircrafts. Boeing's forecast focuses prompting improved international routes and connectivity, predicting that India will become a major aviation hub. Airlines such as Air India and IndiGo have already began strengthening the country’s position in the global market by purchasing more widebody aircrafts.
