At Wings India 2022, the biennial aviation event organised by the Government of India, Airbus released its 20-year market forecast for the Indian market. India will require 2,210 new aircraft over the next 20 years, according to Airbus’ latest India Market Forecast. That fleet could comprise 1.770 new small and 440 medium and large aircraft. This marks an upgrade from the previous forecast of Airbus, made in 2020, where it predicted India would need 1.880 aircraft towards replacement and growth initiatives of Indian carriers.
Over the next decade, India will grow to have the largest population in the world, its economy will grow the fastest among the G20 nations, and a burgeoning middle class will spend more on air travel. As a result, passenger traffic in India will grow at 6.2% per annum by 2040, the fastest among the major economies and well above the global average of 3.9%.
India has witnessed an upward trend in the growth of air traffic over the last ten years – with domestic traffic growing almost threefold and international traffic more than doubling.
On international routes, India has only about 1/10th of the widebody fleet installed in similar markets, depriving homegrown carriers of a larger share of the profitable long-haul routes now dominated by foreign airlines.
“We have seen India’s domestic market develop strongly with our flagship A320 aircraft. It is time now for Indian carriers to unlock the potential of international travel in and out of India, leveraging the country’s demographic, economic and geographic dividends,” said Rémi Maillard, President and MD, Airbus India & South Asia.
Airbus has been pitching its A350 programme to Indian carriers as the long-haul aircraft that needs to be inducted by Indian carriers for their international growth plans and has also displayed the A350 at Wings India 2022 in the Static Display Area.
Airbus also announced that they intend to deliver more than one aircraft a week for the next ten years to India as a part of their existing commitments in India.
Ajay Awtaney is the Founder and Editor of Live From A Lounge (LFAL), a pioneering digital platform renowned for publishing news and views about aviation, hotels, passenger experience, loyalty programs, travel trends and frequent travel tips for the Global Indian. He is considered the Indian authority on business travel, luxury travel, frequent flyer miles, loyalty credit cards and travel for Indians around the globe.