New Delhi, Feb 6 (UNI) Global aerospace company, Boeing has said in a forecast that India and South Asia’s commercial airplane fleet will grow nearly four-fold over the next 20 years, building on sustained fleet growth throughout the last decade.
Continued growth will be fueled by greater demand and a rise in the region’s air traffic, which will grow more than 7 per cent annually through 2043 driven by sustained economic growth, improved connectivity and policies that support air travel liberalization, according to Boeing’s current Commercial Market Outlook (CMO).
Domestic air traffic is expected to remain the largest and fastest-growing segment in India’s travel market, according to the CMO. This projected traffic growth will be enabled by further low-cost carrier expansion and network diversification as airlines offer more routes and destinations throughout the region.
Fuel-efficient single-aisle airplanes, such as the 737 MAX, will account for nearly nine out of 10 commercial jet deliveries in the forecast period, providing airlines with greater network flexibility and better economics on fast-growing short- and medium-haul routes.
The region’s widebody fleet will quadruple as carriers leverage airplanes like the 787 Dreamliner and 777X to further develop long-haul networks, particularly from India to North America, where capacity has doubled in the past decade.
"The India and South Asia region continues to be the world’s fastest-growing commercial aviation market due to strong economic and trade growth, rising household incomes and investments in infrastructure and development," said Ashwin Naidu, Boeing managing director of Commercial Marketing for India and South Asia. "As our CMO shows, people will have greater access to air travel, and the region’s airlines will require a modern fuel-efficient fleet to meet increased demand over the next two decades.”
The CMO also forecasts India and South Asia’s cargo freighter fleet, including new and converted models, will grow five-fold as the region expands its role in global supply chains, advanced manufacturing and e-commerce.
Demand for pilots, cabin crew and technicians will quadruple to 129,000 along with commercial airplane fleet expansion ─ representing the fastest growth rate of any region globally.
UNI SKB BM