Boeing Forecasts Demand for 2,100 New Airplanes in India
- 20-year outlook shows $290 billion worth of airplanes needed over next 20 years
Mumbai, Aug. 1, 2017 - Boeing [NYSE: BA] forecasts a demand for 2,100 new airplanes in India, valued at $290 billion, over the next 20 years. The company released the new numbers this week as part of its annual Current Market Outlook (CMO) briefings for India.
“Commercial aerospace demand in India continues to grow at unprecedented rates,” said Dinesh Keskar, senior vice president, Asia Pacific and India Sales, Boeing Commercial Airplanes. “The increasing number of passengers combined with a strong exchange rate, low fuel prices and high load factors bodes well for India’s aviation market, especially for the low-cost carriers.”
Single-aisle airplanes, like the 737 MAX family, will continue to account for the largest share of new deliveries, with airlines in India needing approximately 1,780 airplanes.
“The 737 MAX is the fastest-selling airplane in Boeing history because customers throughout the world, including India, want its combination of performance, flexibility and efficiency,” said Keskar. “Boeing also continues to offer the most complete family of widebody airplanes, as evidenced by our more than 85 percent in-service market share in India.”
Other important findings from the annual outlook include:
- Traffic growth is more than 20 percent, far exceeding the global average of 7.3 percent
- Domestic passenger traffic increased 23 percent from 2016
- Low-cost carriers continue to account for more than 60 percent of all flights
New Airplane Deliveries to India: 2017-2036
Airplane type Seats Total new deliveries Dollar value Regional jets 90 and below 10 <$1B Single-aisle 90 – 230 1,780 $195B Small widebody 200 – 300 180 $50B Medium/Large widebody 300 and above 130 $45B Total 2,100
(5.1% of world total)
(4.8% of world total)
Boeing projects a worldwide demand for 41,030 new airplanes over the next 20 years, with India carriers needing more than 5.1 percent of the total global demand. Boeing's Current Market Outlook is the longest running jet forecast and regarded as the most comprehensive analysis of the aviation industry. The full report can be found at www.boeing.com/cmo.
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