Mumbai: U.S. plane maker Boeing is looking to secure at least 850 new aircraft orders from India over the next 20 years, as its sees opportunities in one of the world's fastest-growing aviation markets.The company has estimated India could add around 1,700 new aircraft to its existing fleet, and "we are targeting more than half of that," said Boeing India President Pratyush Kumar on the sidelines of the "Make in India" conference in Mumbai.
India's aviation market, which is currently the ninth largest in the world, is poised to become the third largest market by 2020, according to Boeing. A burgeoning middle-class, rapid economic development, and low market penetration means there is great potential for the aviation sector.
In 2015, Boeing projected that the global civil aviation sector would need 38,050 new aircraft, worth over $5.6 trillion, in the next 20 years -- with approximately 40% of all new planes being delivered to airlines based in the Asia Pacific region.
Boeing currently supplies to Indian clients such as Air India and Jet Airways, which mainly place short-term orders. Local budget carrier IndiGo has 430 aircraft on order from Airbus, spread over a long period. Boeing is therefore confident of picking up fresh orders from full-service airline companies.
16/02/16 Rosemary Marandi/Nikkei Aisan Review
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India's aviation market, which is currently the ninth largest in the world, is poised to become the third largest market by 2020, according to Boeing. A burgeoning middle-class, rapid economic development, and low market penetration means there is great potential for the aviation sector.
In 2015, Boeing projected that the global civil aviation sector would need 38,050 new aircraft, worth over $5.6 trillion, in the next 20 years -- with approximately 40% of all new planes being delivered to airlines based in the Asia Pacific region.
Boeing currently supplies to Indian clients such as Air India and Jet Airways, which mainly place short-term orders. Local budget carrier IndiGo has 430 aircraft on order from Airbus, spread over a long period. Boeing is therefore confident of picking up fresh orders from full-service airline companies.
16/02/16 Rosemary Marandi/Nikkei Aisan Review
