India will require 1,750 new passenger and cargo aircraft over the next 20 years to meet an exponential rise in both passenger and freight traffic, according to Airbus’ latest India Market Forecast. To help meet this growth, India will need 1,320 new single-aisle aircraft and 430 widebody aircraft valued at US$255bn.
While much of the air traffic growth is expected to be driven by the fast expanding economy, rising wealth and urbanisation, ambitious government-backed regional connectivity programmes are also set to enhance demand for air travel. By 2036, Indians will each make four times as many flights as today. As a result, traffic serving the Indian market is forecast to grow 8.1 percent per year over the next 20 years, almost twice as fast as the world average of 4.4%.
Domestic Indian traffic is expected to grow five-and-half times over the next 20 years (2017-2036) reaching the same level as U.S. domestic traffic today, making it one of the world’s fastest growing markets, according to Airbus’ latest India Market Forecast for the period.