HYDERABAD, March 19 (Asia Pulse) – India will require 1,043 new passenger and cargo aircraft valued at US$145 billion between now and 2030, according to a market forecast by aviation major Airbus. Of this, 1,020 will be passenger aircraft and 23 cargo.
Indian market for new aircraft is the world’s fourth largest in both number of units and value, according to Airbus Head Marketing (India) Joost Ven Der Heidjen.
Indian annual passenger traffic growth rates of 7.2 per cent are well above the regional Asia Pacific average rate of 5.9 per cent and the world average 4.8 per cent, he said
“Of the requirement for 1,020 new passenger aircraft, some 860 will be for growth and 160 to replace the oldest 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,” Heidjen said at a press conference here.
The new passenger aircraft include 646 single aisle aircraft like the A320 and A320neo Family, 308 twin aisles like the A350 XWB and A330, and 66 very large aircraft such as the A380.
Growing urbanisation and population concentrations combined with a growing middle class and dynamic economic growth are driving