India would see the fastest growth in air travel in the next 10 years and to keep up with demand it would need aircraft worth $138 billion within two decades, a report by global aircraft maker Airbus said.

“Between 2009-2028, Indian air carriers will require 1,032 aircraft valued at $138 billion to meet strong demand for both passengers and freight traffic,” the Airbus Global Market forecast said.

These aircraft would also be required to replace the ageing fleet. The carriers would need 638 single aisle and 287 twin aisle passenger aircraft, 68 very large passenger aircraft and 39 freighters, it added.

Moreover, India would be the fastest growing country for air travel for the next 10 years with domestic traffic increasing by an average 12.2 per cent per year.

Traffic growth in India will also be among the world’s highest, averaging 7.3 per cent over the next 20 years compared to the world average of 4.7 per cent, the report said.

“The Indian economy is showing signs of rebound and this would translate into new aircraft orders by 2012. For the long term, the potential for growth in India for the aviation sector remains exceptional,” Airbus VP (Sales-India) Miranda Mills told reporters at a conference here.

The freighter market will grow nearly twenty-fold by 2028 with 210 aircraft comprising 39 new freighters and 171 converted from passenger aircraft in the fleet, it said.

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