Airbus today said India will need more than 1,290 aircraft, worth at least $190 billion, over the next 20 years. The aircraft manufacturer said Indian carriers will require more planes between now and 2032 than what it had forecast in 2012, according to its latest report released at the India Aviation 2014 air show here on Thursday.
Airbus executives said Indian annual passenger traffic growth rates of 8.6 per cent are above the regional Asia-Pacific average growth rate of 6.1 per cent and world average of 4.7 per cent. Of the required 1,290 new aircraft, some 73 per cent will be for growth and 27 per cent as replacement.
Outlining the findings, they said the new passenger aircraft include 913 single-aisle ones like the A320 and A320neo family, 322 twin-aisle ones such as the A350 XWB and A330, and 56 large aircraft such as the A380.
By 2032, today’s fleet of aircraft will more than triple to some 1,233 aircraft.
Addressing a media conference Joost van der Heidjen, Head-Marketing, Asia Airbus said that it estimates Indian passenger traffic growing at almost 10 per cent a year up to 2032, becoming the third largest market. Today, one in 20 travel by air, but by 2032, it is expected to grow five-fold.
Srinivasan Dwarakanath, CEO of Airbus India, said Airbus expects to expand its engineering centre workforce in Bangalore from 350 to 450 researchers, step up pilot training activities, strengthen aero-structure design capability, and increase the sourcing of parts manufactured locally.
He said Airbus is also sponsoring India’s first aerospace and aviation education programme. The Indian Institute of Management-Bangalore (IIM-B) and Toulouse Business School have signed an agreement to set up an Executive General Management Programme in aerospace and aviation management. The Aerospace MBA will be the first of its kind in the country .