New Delhi: Boeing forecasts a $150 billion market for 1320 new passenger airplanes in India over the next 20 years as the economy aims for double-digit growth, stimulating strong demand for new and replacement airplanes. Boeing India President Dinesh Keskar shared the forecast today with Boeing’s outlook for India’s commercial airplane market through 2030.
"Robust growth with new economic prosperity amongst a massive Indian population, discretionary incomes, business progress and access to airports will increase airplane demand,” Keskar said. "In 2011, the economy continues to do well. Indian air carriers are becoming profitable and we expect the GDP to maintain its upward trend in the long-term. As a result, both the air travel and air cargo markets will grow.” Keskar also said that airline revenue and yields were up, but high inflation and volatile fuel prices will play a pivotal role in the health of the industry.
Passenger traffic, which has reached 53.6 million domestic (fiscal 2011) and 13.1 million international, is expected to grow at 8.1 percent annually over the long-term.
“The economic and air-traffic growth will in turn stimulate demand for a variety of aircraft types,” Keskar said. “The need is great for new airplanes that can efficiently and profitably fly short and long-haul routes. This demand is driven by growth in developing and emerging cities, demand from low-cost carriers and the need to replace an aging fleet.”
05/07/11 Manufacturing.Net
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