ETW Staff– Mumbai
According to Airbus’ latest market forecast, Indian carriers will require 1,290 new passenger aircraft valued at US$190 billion between now and 2032 to satisfy surging annual demand. Indian annual passenger traffic growth rates of 8.6 per cent are well above the regional Asia Pacific average growth rate of 6.1 per cent and the world average 4.7 per cent.
Of the requirement for 1,290 new aircraft, some 73 per cent will be for growth and 27 per cent for replacement. The new passenger aircraft include 913 single aisles like the A320 and A320neo family, 322 twin aisles like the A350 XWB and A330, and 56 very large aircraft such as the A380. By 2032, today’s fleet of 343 aircraft will more than triple to some 1,233 aircraft.
Dr Kiran Rao, EVP strategy and marketing, Airbus, said, “By 2032, the number of Indian cities with more than a million passengers every month will have grown to 13 from today’s two. This exponential growth will continue to drive the need for larger aircraft like the A380 to operate in the country. As the people of India fly more and the number of first time flyers has increased, demand for the latest aircraft will also increase making India one of the largest and most dynamic markets in the world.”
By 2032, Airbus forecasts that 36 per cent of India’s fleet will be wide-bodies, more than doubling today’s level. This is a result of increased capacity of international as well domestic routes with larger aircraft like the A330 and A350s.
In passenger traffic term, domestic India is the fastest growing flow increasing at almost 10 per cent per year to 2032. In 2032, India domestic traffic will be the world’s third largest domestic market.