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Indian Carriers To Buy Aircraft Worth USD190bn

by Mary Swire, Tax-News.com, Hong Kong

15 March 2014


Aircraft manufacturer Airbus has predicted that Indian carriers will require 1,290 new passenger aircraft, valued at USD190bn, between now and 2032 to satisfy surging demand for travel.

Indian annual passenger traffic growth rates of 8.6 per cent are well above the regional Asia Pacific average growth rate of 6.1 percent, and the world average 4.7 percent. In passenger traffic terms, domestic India is seen as the fastest growing market, with traffic increasing at almost 10 per cent per year to 2032.

Of the 1,290 new aircraft, Airbus predicts that 73 percent will be from airlines looking to expand the size of their fleet, while the remaining 27 percent will be to replace existing aircraft.

Of this total, Airbus forecasts that 913 will be single-aisle aircraft, 322 will be twin-aisle aircraft, and 56 will be very large aircraft, such as the A380.

By 2032, India's current fleet of 343 aircraft will have tripled to some 1,233 aircraft, Airbus says, and 36 per cent of India's fleet will be wide-bodies – more than doubling today's level.

In 2032, India domestic traffic will be the world's third largest domestic market. Today one in 20 Indians travel by air. In 2032 this will increase five fold to a quarter of the population taking at least one flight each year.

"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," said Kiran Rao of Airbus EVP Strategy and Marketing. "As the people of India fly more and the number of first time flyers increases, demand for the latest generations of aircraft will also increase making India on of the largest and most dynamic markets in the world."

TAGS: aviation

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