India Inc India Inc: Wednesday, 14 March 2018 05:00

Airbus sees demand for 1,750 new aircraft in India

 

French aircraft manufacturer Airbus stated that airlines in India will take delivery of one Airbus aircraft every week for the next decade.

Airbus, which currently has more than 300 aircraft in operation in India flown by various airlines, has 530 aircraft in its India order book, it said in its 20-year India Market Forecast at aviation event Wings India 2018.

The company said India will need as many as 1,750 new passenger and cargo aircraft over the next two decades to meet the exponential rise in both passenger and cargo traffic.

Airbus added that by 2036, Indians will each make four times as many flights as today and traffic serving the Indian market is forecast to grow 8.1 per cent per year over the next 20 years, almost twice as fast as the world average of 4.4 per cent.

Domestic Indian traffic is expected to grow 5.5 times over the next 20 years (2017-2036), reaching the same level as the US today, making it one of the world’s fastest growing markets.

Srinivasan Dwarakanath, President, Airbus Commercial Aircraft, India, said: “Make in India is at the heart of our strategy. Airbus has the largest footprint in India of any international aircraft manufacturer, nationwide across all aircraft programmes. Our sourcing volume has grown 16 times over the past 10 years and it is currently at more than $550 million annually.”

'India Global Business’ has in-depth coverage on related topics.

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