Indian carriers will require 1,290 new passenger aircraft valued at $190 billion between now and 2032 to satisfy surging demand, according to a market forecast released by Airbus on Thursday
The 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 of 4.7. Of the requirement of 1,290 new aircraft, some 73 per cent will be for growth and 27 per cent for replacement.
Demand for wide-bodies
The new passenger aircraft include 913 single aisles like the A320 and A320neo Family, 322 twin aisles like A350 XWB and A330, and 56 very large aircraft such as A380. By 2032, the present fleet of 343 aircraft will more than triple to 1,233 and 36 per cent the fleet will be wide-bodies, more than double the present level: a result of increased capacity on international as well domestic routes.
In passenger traffic term, domestic India will be the fastest growing flow increasing at almost 10 per cent per year till 2032. India’s domestic traffic in 2032 will be the world’s third largest domestic market. In addition, five of the world’s top 20 fastest growing flows connect India. Today one in 20 Indians travel by air and in 2032 this number will increase five-fold to a quarter of the population. Along with China, more people will experience aviation benefits for the first time in India than anywhere else.
“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 A-380,” Airbus executive vice-president (Strategy and Marketing) Kiran Rao said. As people of India fly more and the number of first time flyers increases, the demand for the latest generations of aircraft will also grow, making the country one of the largest and most dynamic markets, he says.
India produces parts for the full range of Airbus aircraft, and employs some 350 engineers in Bangalore.
