‘India Need A Big Rise In Demand Of Airplanes’: Boeing Corporation.

Boeing Corporation on Tuesday sounded bullish about the Indian aviation sector, the fastest-growing market in the world in terms of passenger traffic, saying the country will need as many as 1,850 new airplanes worth $265 billion over the next 20 years.
Dinesh Keskar, Senior Vice-President for Asia Pacific and India, Boeing Commercial Airplanes, talking to reporters here while releasing Boeing’s ‘Current market outlook for India’ report stated “The Seattle-based aircraft maker had last year predicted a demand for 1,740 new airplanes valued at $240 billion over the next 20 years.This rising demand will be driven by single-aisle planes such as the 737 Max and Next-Generation 737s from Boeing and A320 Neos from its arch rival Airbus”. As well as Keskar said, “India continues to have a strong commercial aerospace market and the highest domestic traffic growth in the world.
Giving a break-up of the demand, Keskar said single-aisle planes (that have 90-230 seats) will lead the chart with a demand for 1,560 aircraft worth $180 billion, followed by 280 wide-body ones worth around $85 billion that can carry over 200 passengers. Regional jets with 10-seater capacity will constitute 90 units out of the total demand, or around $1 billion in value.
This will make India contributing to over 4.6 per cent of the global demand for 39,620 airplanes by 2035, and 4.5 per cent of world demand in terms of value, Mr. Keskar said, adding these new planes will continue to support growth of low-cost carriers and replace older ones
“With the new aviation policy in place, we see even greater opportunities and remain confident in the market and the airlines here,” he said, adding “lower fuel prices, economic expansion, competitive fares and rising incomes of the large middle class are helping boost air-travel demand.”
Keskar also commented on the government’s regional connectivity push, saying even as it has capped prices, the promise of refunding 80 per cent of losses, if any, will help the airlines drive the business. .
The upbeat outlook comes after the country’s domestic air traffic grew 18.8 per cent in 2015 to 80 million, which is the fastest in the world, as per the latest IATA numbers.

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