Toulouse - Airbus predicts that India will order 1750 new passenger and cargo aircraft over the next 20 years to respond to the exponential increase in the passenger and freight traffic.
The economy is in strong growth in India, contributing to the development of the middle class and the rise of air travel. The urbanization and government policy to increase regional connectivity are the leading catalysts.
By 2036, the air traffic will increase more than four times than today in India, says Airbus in its latest Market Forecast. According to European manufacturer, the air traffic growth rate will be 8.1% per annum in India over the next 20 years, almost double the global average of 4.4%. Indian domestic traffic is expected to grow 5.5 times over the same period.
According to Airbus, this growth will result in a need for 1 750 new aircraft over 20 years, divided into 1320 single aisles and 430 widebody carriers. The value of the market is estimated at $255 billion.
India is in the process of placing third in the world aviation market as early as 2019 or 2020.
Airbus is well positioned to take advantage of this growth.
Its order book consists of 530 aircraft reserved by Indian companies.
The manufacturer claims a market share of 60% for the fleet in service in India and more than 70% for current orders.
However, Airbus' forecast is more modest than Boeing's. According to the American manufacturer's market forecast published last year in summer, India would require 2 100 new aircraft over 20 years, representing a $290 billion market.