Boeing forecasts India's demand for over 2,500 new aircraft by 2042

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Boeing's vice-president of Commercial Marketing, Darren Hulst, said on Friday that India is expected to require more than 2,500 new aircraft deliveries by 2042, driven by substantial growth in air traffic.

Hulst highlighted that South Asian carriers, including those in India, are projected to significantly expand their fleets over the next two decades, with over 92 per cent of the 2,705 new airplanes needed for growth and fleet replacement expected in India.

The forecast is based on data from the middle of the previous year, PTI reported.

Hulst emphasized that the demand is driven by rising passenger and cargo demand, and Indian carriers are anticipated to quadruple the size of their fleets. The fleet composition is expected to include over 2,300 single-aisle aircraft and nearly 400 wide-body aircraft for long-haul flights.

Boeing noted that India stands out as the only large economy in Asia that has returned to pre-pandemic levels of domestic and international demand for air travel. This reflects the significance of air travel in the Indian marketplace, the strength of the Indian economy, and the strong connection of travelers to continued growth.

Hulst also mentioned the potential for growth in the Indian cargo fleet, estimating the need for 80 new freighter aircraft over the next 20 years. Currently, there are only 15 freighter aircraft in India, indicating substantial untapped potential in the cargo sector.

Also read: Air passenger traffic in India expected to reach 300 million by 2030: Jyotiraditya Scindia

Meanwhile, the number of domestic air passengers in India is expected to surge to 300 million annually by 2030 from 153 million in 2023, Union Civil Aviation Minister Jyotiraditya Scindia said on Thursday, January 18.

Speaking at the inaugural session of Wings India 2024, a civil aviation conclave and exhibition at Hyderabad, Jyotiraditya Scindia also said the number of airports and watersports in India will increase to over 200 from the existing 149, news wire PTI reported.

The minister added that, with 300 million passengers a year in 2030, India's aviation penetration would be at 10 to 15 per cent and still be a potential market.

Scindia also said that the domestic air passenger traffic has witnessed 15 per cent growth CAGR, while the international air passenger traffic saw 6.1 per cent growth in the last decade. In the last 15 years, domestic cargo witnessed a growth of 60 per cent and international at 53 per cent. With inputs from agencies