For years, plane makers Airbus and Boeing have made optimistic forecasts about growth of aviation in India - a rising middle class, growth in gross domestic product and under penetration of airlines making it a relevant market.
Earlier this year, Boeing projected India's demand for aircraft to touch 1,740, valued at $240 billion, over the next 20 years in India. This would account for 4.3 per cent of global volumes. The optimism is getting translated into orders, with Indian carriers placing multi-billion contracts to cater to growth plans. In August, IndiGo signed up with Airbus for a $25.7-billion order for 250 A320neo planes, largest ever order for the European plane maker. Previously the biggest single order in terms of planes was for 234 planes from Lion Air of Indonesia in 2013.
Boeing's latest market forecast claims it will deliver 38,050 planes till 2034 with the highest share (38 per cent) in the Asian market. India will require 1,740 planes over the same period.
10/11/15 Business Standard
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Earlier this year, Boeing projected India's demand for aircraft to touch 1,740, valued at $240 billion, over the next 20 years in India. This would account for 4.3 per cent of global volumes. The optimism is getting translated into orders, with Indian carriers placing multi-billion contracts to cater to growth plans. In August, IndiGo signed up with Airbus for a $25.7-billion order for 250 A320neo planes, largest ever order for the European plane maker. Previously the biggest single order in terms of planes was for 234 planes from Lion Air of Indonesia in 2013.
Boeing's latest market forecast claims it will deliver 38,050 planes till 2034 with the highest share (38 per cent) in the Asian market. India will require 1,740 planes over the same period.
10/11/15 Business Standard
