India will require 2,210 new aircraft over the next 20 years, according to Airbus’ latest India Market Forecast. That fleet could comprise 1,770 new small and 440 medium and large aircraft.
Addressing the media at the Wings India 2022, Rémi Maillard, President and MD, Airbus India & South Asia said that the time is right to make India a long haul ready market.
“India needs to get equipped well to become a long haul market. It needs development on maintenance and leasing market. India also needs to provide a competitive market, and get equipped well to become a long haul market,” he added.
Over the next decade, India will grow to have the largest population in the world, its economy will grow the fastest among the G20 nations, and a burgeoning middle class will spend more on air travel. As a result, passenger traffic in India will grow at 6.2 per cent per annum by 2040, the fastest among the major economies and well above the global average of 3.9 per cent. India has witnessed an upward trend in the growth of air traffic over the last ten years with domestic traffic growing almost threefold and international traffic more than doubling.
On international routes, India has only about 1/10th of the widebody fleet installed in similar markets, depriving homegrown carriers of a larger share of the profitable long-haul routes now dominated by foreign airlines.
“We have seen India’s domestic market develop strongly with our flagship A320 aircraft. It is time now for Indian carriers to unlock the potential of international travel in and out of India, leveraging the country’s demographic, economic and geographic dividends,” said Maillard.
“Whether it is expanding existing airlines or supporting new airlines, there must now be a re fleeting and rethinking about future-oriented solutions with technology that paves the way for sustainable long-range travel. The A350 is the perfect solution for that,” Maillard said, announcing the India Market Forecast on the opening day of the Wing India air show being held at Hyderabad from March 24 to 27, 2022.
To serve its growing aviation industry, India will require an additional 34,000 pilots and 45,000 technicians by 2040. Airbus supports 7,000 jobs, including about 1,650 engineers in India Annual sourcing from India at more than US $650 million
The complete Airbus product line comprises the only aircraft specifically designed for the small single-aisle market, the A220, the world’s best-selling A320 Family, the mid-size widebody A330/330neo and the Long-Range Leader, the A350. In the freight market, Airbus aircraft are available with the A320/321P2F (Passenger to Freighter), the A330-200F and A330P2F as well as the world’s newest freighter, the A350F.
Speaking about the Russia Ukraine crisis, Maillard said that there is an impact. “World is facing turbulence, and there is a crisis but it will continue to be a powerful force connect people globally.”