Airbus Expects Indian Airlines to Triple its Fleets over the Next Decade
Airbus said on Thursday that Indian carriers will triple their fleets to 2,250 jets over the next 10 years, driven by robust economic growth, a growing middle class, and a surge in first-time flyers. In a similar outlook for India, Boeing said that airlines in the region, a key battleground for plane makers now dominated by Airbus, would need approximately 3,300 new aircraft by 2044. The aerospace industry closely monitors regional forecasts from aircraft manufacturers, as India is the world’s 3 rd largest domestic aviation market after the US and China, led by the two major carriers, IndiGo and Air India. But India’s aviation industry is still at an early stage, with trips per capita at 0.13, well below comparable regions, said Jürgen Westermeier, Airbus president and MD for India and South Asia. This leaves considerable room for more Indians to accept air travel, he added in a forecast. "Some services in aerospace will now benefit from the reduction in tariffs after the India-EU trade agreement," Westermeier said, referring to this week's landmark deal. India has mirrored a global rush for large-aircraft orders as carriers expand capacity, retire older jets, and respond to post-COVID-19 travel demand. Indian carriers have placed large jet orders in recent years, positioning them to scale their fleets, unlike in mature markets, which primarily seek to replace older planes. Airbus was the world’s largest plane maker last year despite headwinds brought by engine shortages, supply chain issues and tariff pressures. Source: The Economic Times
