Between 2009 and 2028, airlines in India will require 1,032 aircraft, worth about $138 billion, to serve the strong demand for passenger air travel and freight, and to replace ageing fleets with new more fuel-efficient aircraft, according Airbus's Global Market Forecast.
Of these aircraft, 993 would be new passenger aircraft valued at $131 billion and 39 would be new freighters valued at $7 billion.
The number of new aircraft required by Indian carriers is the world's fifth biggest.
The new passenger aircraft consists of 638 single aisles such as the A320 family, 287 twin aisles such as the A350 XWB and A330/A340, and 68 very large aircraft such as the A380, the Airbus forecast said.
The freighter requirement is for 39 new aircraft such as the A330-200F.
Airbus estimates that by 2028, Indian passenger fleet will almost quadruple to 1,163 aircraft. As well as an additional 993 new passenger aircraft, 170 will remain in service. The freighter market will grow nearly twenty fold by 2028, mushrooming to 210 aircraft comprising of 39 new freighters and 171 conversions from passenger aircraft.
India will be the fastest growing country for air travel for the next 10 years with domestic traffic increasing by an average 12.2 per cent per year, the study said. Traffic growth will also be amongst the world's highest averaging 7.3 per cent over the next 20 years compared to 4.7 per cent world average.
Growing urbanisation, a concentration of demand and the increasing number of dynamic mega-cities, particularly in the Asia-Pacific region, are driving demand for larger aircraft in all categories. India's proximity to fast growing economies, its relatively nascent aviation market and the county's growing economy are all factors fuelling demand for air travel. By 2028, India's gross domestic production is forecast to surpass that of the United Kingdom.
"The Indian economy is showing signs of rebounding and this will translate to new aircraft orders by 2012. Long term, the potential for growth in India's aviation sector remains exceptional. Airbus has been a partner to the India aviation sector for longer than any other aircraft manufacturer, and with Airbus' modern and fuel efficient range of eco-efficient products, we believe this partnership will continue to flourish," said Miranda Mills, Airbus vice president, sales, India.
Airbus' partnership with India dates back to 1974 when the first Airbus was ordered. Today, nearly half of all forward A320 doors are produced by Hindustan Aeronautics Ltd, and over 150 highly trained local engineering talent working on high end analysis and design work at the Airbus Engineering Centre India (AECI).
Established in 2006, the centre will grow to 400 by 2012. The Bangalore Airbus Training India will have the capacity to train up to 1,000 pilots per year. Today, Airbus wins some 70 per cent of Indian aircraft orders and represents 65 per cent of India's fleet.
Image: Miranda Mills, Airbus vice president, sales, India.
