According to Airbus’ latest market forecast, Indian carriers will require 1,043 new passenger (1,020) and freighter (23) aircraft valued at US$145 billion between now and 2030 to satisfy surging annual demand. India’s market for new aircraft makes it the world’s fourth largest in both number of aircraft and value.
Indian annual passenger traffic growth rates of 7.2 per cent are well above the regional Asia Pacific average growth rate of 5.9 per cent and the world average 4.8 per cent.
Of the requirement for 1,020 new passenger aircraft, some 860 will be for growth and 160 to replace the eldest aircraft in the existing fleet of 327. By 2030, this means that India’s passenger fleet will more than triple to some 1,180 aircraft. The new passenger aircraft include 646 single aisles like the A320 and A320neo Family, 308 twin aisles like the A350 XWB and A330, and 66 very large aircraft such as the A380.
“By 2030, India’s economy is forecast to be the fourth largest in the world creating exceptional potential for growth in the aviation sector. Through our Indian industrial partnerships we are proud to boast that every A320 today is partly made in India,” said Dr. Kiran Rao, Airbus Executive Vice President, Sales and Marketing, and President of Airbus India. “Our engineering and industrial footprint in India supports over 2,000 highly skilled Indian jobs throughout our supply chain, and this figure is growing.”