The demand placed on Indian aviation, for both passenger and freight traffic, seems unable to stop growing. So, it should come as no great surprise that the industry needs to seriously increase the number of aircraft to cope with this need.
In fact, according to Airbus’ latest India Market Forecast, India will need 1,750 new passenger and cargo aircraft over the next 20 years to meet the exponential rise. This equates to 1,320 new single-aisle aircraft and 430 wide-body aircraft — approximate value? US$255 billion.
While much of the air traffic growth is expected to be driven by the fast expanding economy, rising wealth and urbanisation, ambitious government-backed regional connectivity programmes are also set to enhance demand for air travel. By 2036, Indians will each make four times as many flights as today. As a result, traffic serving the Indian market is forecast to grow 8.1 percent per year over the next 20 years, almost twice as fast as the world average of 4.4 percent.
Domestic Indian traffic is well on target to reach the same level as the US, and maybe higher, in the next 20 years. An increase in growth, approaching five-and-half times, by 2036. Making it one of the world’s fastest growing markets, for the period.
India is set to become the world’s third largest aviation market by 2019/20 and Airbus is well positioned to partner its growth with backlog orders of over 530 aircraft to date.
“Make in India is at the heart of our strategy. Airbus has the largest footprint in India of any international aircraft manufacturer, nationwide across all aircraft programmes. Our sourcing volume has grown 16 times over the past ten years and it is currently at more than US$550 million annually,” said Srinivasan Dwarakanath, president of Commercial Aircraft for Airbus India.
- More than 70% backlog order share; More than 60% of in-service fleet
- 8.1% annual growth in passenger traffic (global average 4.4%)
- India is set to become the world’s third largest aviation market by 2019/20
- By 2036, Indian passengers will make four times as many flights as today
- One Airbus aircraft will be delivered to India every week for next 10 years
- Annual sourcing from India at more than US$550 million
Click here for more information on Airbus India and the ‘Make in India’ initiative.