Airbus has revised its market forecast for India, stating that the country will require 1,040 aircraft worth $145 billion in the next 20 years.
India's market for new aircraft makes it the world's fourth largest in terms of both number of aircraft and value, the French aircraft maker said.
“We have raised the requirement a little from our earlier projections last year in the light of the surging demand in the (Indian) aviation sector,” Mr Joost Van Der Heijden, Head of Airline Marketing, Africa, India, South-East Asia and Japan, told newspersons on the sidelines of India Aviation 2012 today.
He pointed out that the Indian annual passenger traffic growth rate of 7.2 per cent is well above the regional Asia Pacific average growth rate of 5.9 per cent and world average of 4.8 per cent.
Of the requirement of 1,020 new passenger aircraft, about 860 will be for growth and 160 to replace the older aircraft in the existing fleet of 327. The new passenger aircraft requirement includes 646 single aisles such as the A320 family, 308 twin-aisles and 66 very large aircraft.
For Airbus, India continues to be a focus market. “Last year, 15 per cent of our global orders came from Indian carriers. Globally, we are having a backlog of 4,500 aircraft, which means eight full years of production,” he said.
Indian carriers Indigo and GoAir have ordered a total of 252 aircraft, including 150 of the latest version A320 NEO by Indigo and 72 of the same aircraft by GoAir.