Mumbai, July 19 (IANS) Global aircraft manufacturer Boeing on Tuesday said that it expects a demand for 1,850 new airplanes in India, valued at $265 billion, over the next 20 years.
“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, Boeing Commercial Airplanes.
“With the new aviation policies in place, we see even greater opportunities and remain confident in the market and the airlines in India.”
According to the company’s annual “Current Market Outlook” (CMO), single-aisle airplanes such as the “Next-Generation” 737 and 737 MAX will continue to account for the largest share of new deliveries.
The company expects the airlines in India to need approximately 1,560 single-aisle airplanes in the next 20 years.
The global aircraft manufacturer elaborated that these new airplanes will continue to support the growth of low-cost carriers and replace older, less-efficient airplanes.
“Boeing’s strong orders and deliveries for the Next-Generation 737 and 737 MAX underscore how we are meeting our customers’ demands and expectations, offering them the most fuel efficient, reliable and capable airplanes,” said Keskar.
“We also continue to be the preferred choice for widebody airplanes in India, with more than 85 per cent of the market share.”
Boeing projects a worldwide demand for 39,620 new airplanes over the next 20 years, with India carriers needing more than 4.6 per cent of the total global demand.
The company’s CMO is the longest running jet forecast and regarded as the most comprehensive analysis of the aviation industry.