Bengaluru, Mar 9: The exponential rise in both pasenger and freight traffic in India had
catapulted the demand for new aircraft to 1750 over the next 20 years,
according to a market forecast by Airbus.
To help meet this exponential growth, India will
need 1,320 new single-aisle aircraft and 430 wide-body aircraft valued at USd
255 billion, Airbus said in a release here on Friday.
While much of the air traffic growth is expected to be driven by the fast expanding economy, rising wealth and urbanisation, ambitious government-backed regional connectivity programmes are also set to enhance demand for air travel. By 2036, Indians will each make four times as many flights as today. As a result, traffic serving the Indian market is forecast to grow 8.1 per cent per year over the next 20 years, almost twice as fast as the world average of 4.4 per cent it said.
Domestic Indian traffic is expected to grow five-and-half times over the next 20 years (2017-2036) reaching the same level as USA domestic traffic today, making it one of the world’s fastest growing markets, according to Airbus’ latest India Market Forecast for the period.
"Make in India is at the heart of our strategy. Airbus has the largest footprint in India of any International aircraft manufacturer, nationwide across all aircraft programmes. Our sourcing volume has grown 16 times over the past ten years and it is currently at more than US$550 million annually,” said Srinivasan Dwarakanath, President Airbus Commercial Aircraft in India.
India is set to become the world’s third largest aviation market by 2019/20 and Airbus is well positioned to partner its growth with backlog orders of over 530 aircraft to date.
The complete Airbus product line comprises the best-selling A320 Family in the single aisle market, the popular A330 and A330neo, the A350 XWB in the mid-size widebody category and the flagship A380 in the very large aircraft segment.
In the freight market, Airbus currently offers the new-build A330-200F and the Passenger-to-Freighter (A330P2F) programme. The passenger traffic growth of 8.1 per cent in India was almost the double of global average of 4.4 per cent and the country would by next fiscal would become the world's third largest aviation market, it said.
On an average, Airbus would be delivering an aircraft to India every week over the next ten years, the forecast said. UNI
While much of the air traffic growth is expected to be driven by the fast expanding economy, rising wealth and urbanisation, ambitious government-backed regional connectivity programmes are also set to enhance demand for air travel. By 2036, Indians will each make four times as many flights as today. As a result, traffic serving the Indian market is forecast to grow 8.1 per cent per year over the next 20 years, almost twice as fast as the world average of 4.4 per cent it said.
Domestic Indian traffic is expected to grow five-and-half times over the next 20 years (2017-2036) reaching the same level as USA domestic traffic today, making it one of the world’s fastest growing markets, according to Airbus’ latest India Market Forecast for the period.
"Make in India is at the heart of our strategy. Airbus has the largest footprint in India of any International aircraft manufacturer, nationwide across all aircraft programmes. Our sourcing volume has grown 16 times over the past ten years and it is currently at more than US$550 million annually,” said Srinivasan Dwarakanath, President Airbus Commercial Aircraft in India.
India is set to become the world’s third largest aviation market by 2019/20 and Airbus is well positioned to partner its growth with backlog orders of over 530 aircraft to date.
The complete Airbus product line comprises the best-selling A320 Family in the single aisle market, the popular A330 and A330neo, the A350 XWB in the mid-size widebody category and the flagship A380 in the very large aircraft segment.
In the freight market, Airbus currently offers the new-build A330-200F and the Passenger-to-Freighter (A330P2F) programme. The passenger traffic growth of 8.1 per cent in India was almost the double of global average of 4.4 per cent and the country would by next fiscal would become the world's third largest aviation market, it said.
On an average, Airbus would be delivering an aircraft to India every week over the next ten years, the forecast said. UNI
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