Boeing’s 2022 commercial market outlook for India predicts that long-haul passenger traffic in the country will grow by 7 per cent annually until 2041.
India’s traffic has transitioned from recovery to growth, with the domestic market recovering by 98 per cent of its pre-pandemic levels, according to the report.
“As a result, Indian airlines will add 7 per cent more supply in the first half of 2023, compared to 2019. Due to the rapid growth of its domestic traffic, Boeing forecasts that 90 per cent of new deliveries to India over the next 20 years will be for single-aisle aeroplanes such as the 737 MAX,” said Dave Schulte, managing director for Asia Pacific at Boeing Commercial Marketing.
More than 80 per cent of new plane deliveries to the market will be for growth, with the remaining 20 per cent for the replacement of ageing jets.
According to the report, India will require approximately 2,210 new planes over the next two decades, with 1,983 single-aisle jets and 227 widebody planes, accounting for 10 per cent of new plane deliveries. Moreover, the demand for commercial services to support fleet replacement is valued at $135 billion.
Similarly, the Indian cargo market is expected to continue to expand over the next two decades to meet demand. The cargo fleet will grow from the current 15 aeroplanes to about 80 by 2041. These will predominantly be converted narrow-body aircraft to support domestic and regional growth, and a number of production and conversion wide-body freighters to support global operations.