Thursday, March 12, 2020

Airbus says India needs 1,880 new passenger, cargo aircraft over 20 years

Backed by buoyancy in the increase of air travellers, India will require about 1,900 new passenger and cargo aircraft before 2038, president and managing director of Airbus India (South Asia) Anand Stanley said on Thursday. Of the 1,900 aircraft, 1,440 aircraft are for growth and 440 are for replacement of retiring aircraft, he told reporters on the sidelines of “Wings India 2020″, an aviation-related event, here.
He said Airbus was sourcing volumes from the country to reach than USD one billion by 2025 from the current USD 650 million. If you move to the future, within 20 years by 2038, we believe that the number (the 0.5 trips per capita in India) will grow at least four times. That is what China is close today. That is what the average of the global markets today,” he said.
“In the next 20 years, Indian trafficis forecast to increase at 8.2 per cent per year. At a fairly conservative number we believe that by 2038, we will add at least 1,880 new aircraft in India. This is net of replacements and any other deductions, he said. Taking into account the 440 retirements, Indias existing domiciled fleet of 510 aircraft would quadruple to 1,950 by 2038, he said.
According to Stanley, India is set to become one of the worlds largest economies, with some of the worlds fastest growing cities in terms of GDP, like Hyderabad, Chennai and Bengaluru. He said in the next 20 years, air transport is expected to be a key enabler and a beneficiary of this economic growth. Rising wealth and urbanisation, and the Indian governments ambitious regional connectivity programmes are all growth drivers, he said.
With its “worldclass” engineering and training centres and a 45-strong supplier network, Airbus industrial footprint in India has set new standards among international aircraft manufacturers, he said. The Design in India component (of Airbus) has been growing at fairly I would even say exponential rate and to the point that we believe in the next five years this USD 650 million number (sourcing from India) can easily cross USD one billion,” he said.
12/03/20 PTI/Financial Express
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