Boeing Predicts 2,800+ New Jets for Indian, South Asian Airlines

Boeing forecasts that airlines in India and South Asia will add 2,835 new jets over the next 20 years, a fourfold increase from current levels. The growth is driven by a rising middle class and robust economic expansion, according to the company’s latest market outlook.

The planemaker’s revised projection surpasses last year’s forecast of 2,705 jets. “People will have greater access to air travel, and airlines will need modern, fuel-efficient fleets to meet rising demand,” said Ashwin Naidu, Boeing’s managing director of commercial marketing for India and South Asia.

Boeing estimates that 2,445 of these deliveries will be single-aisle aircraft, representing 90% of the total. Additionally, the region’s widebody fleet is expected to quadruple with 370 new aircraft. The company predicts annual air traffic growth exceeding 7% through 2043.

India, already the world’s third-largest domestic aviation market after the U.S. and China, remains the fastest-growing. Airlines like IndiGo and Air India lead the market, with Indian carriers currently holding orders for about 1,800 aircraft. Cirium Ascend data indicates 130 deliveries are expected in 2024 alone.

Despite strong demand, global supply chain challenges continue to affect aircraft production at both Boeing and Airbus. Boeing’s deliveries fell in early 2024 due to a strike, but the company reports progress toward ramping up production.

Challenges persist for India’s aviation sector, including currency fluctuations, volatile fuel prices, and relatively low airfares compared to global standards. However, Boeing remains optimistic about long-term growth prospects in the region.

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