Boeing Forecasts Huge Growth for Indian and South Asian Airline Fleets

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Boeing announced on Thursday that it anticipates airlines in India and South Asia will add 2,835 commercial aircraft to their fleets over the next 20 years, marking a four-fold increase from current levels due to a growing middle class and strong economic expansion driving travel demand.

The company's previous 20-year forecast, released last year, projected 2,705 aircraft. Boeing's managing director of commercial marketing for India and South Asia, Ashwin Naidu, stated that as people gain greater access to air travel, airlines in the region will need to modernize their fleets with fuel-efficient planes to meet the growing demand.

The forecast predicts that 2,445 of these aircraft will be single-aisle models, making up about 90% of the deliveries, while widebody fleets will grow by 370 planes. Boeing also expects air traffic in the region to increase by over 7% annually through 2043.

India is currently the third-largest domestic aviation market, behind the U.S. and China, and is the fastest-growing, with IndiGo and Air India leading the market. Indian carriers have around 1,800 aircraft on order and are set to receive 130 jets this year, according to data from Cirium Ascend.

However, airlines globally are facing delays in jet deliveries due to supply chain issues affecting production at Boeing and Airbus, with both companies’ order books sold out for several years. Boeing’s deliveries in 2024 have dropped to the lowest level since the COVID-19 pandemic, partly due to a severe strike, although it recently reported progress in ramping up production. Airbus has also missed its 2024 delivery target.

In addition, Boeing projects a significant increase in demand for pilots, cabin crew, and technicians, estimating that the number needed will grow to 129,000 over the next two decades.

Paraphrasing text from "Reuters" all rights reserved by the original author.