Mumbai, Jan 28: India and South Asia’s passenger air traffic will rise at an average of 7% annually over the next 20 years, revealed American aircraft manufacturer Boeing’s latest Commercial Market Outlook (CMO) report for South Asia. The report highlighted that airlines will need nearly 3,300 new airplanes by 2044 to meet the demand for air travel.
Single-aisle aircraft to dominate fleet
According to Boeing’s annual CMO, single-aisle narrow-body aircraft will account for nearly 90% of these projected deliveries as airlines look to boost network flexibility on fast-growing short- and medium-haul routes.
It stated that the Indian and South Asian region’s fleet will grow from 795 to 2,925 airplanes over two decades, representing nearly a four-fold increase during this period. The region will also require around 395 widebody aircraft, 20 freighters and fewer than 10 regional jets.
Expansion of long-haul networks
Indian and South Asian airlines are also projected to expand and diversify their long-haul networks as India grows as a key hub for international passenger and cargo traffic.
The South Asia region’s widebody fleet will more than triple by 2044, enabling millions of Indian and South Asian passengers to travel to international markets, including the Middle East, Europe and North America.
Cargo demand to drive freighter growth
In the cargo market, high-tech manufacturing growth in India and the increasing role of e-commerce will boost the need for more freighter aircraft, Boeing highlighted.
The South Asia region’s fleet of new and converted freighters is expected to grow five times its current size over the next two decades to support rising air cargo demand, according to the CMO report.
Investment and workforce requirements
Boeing also stated that the South Asia region’s aviation industry will require more than $195 billion in investments in aviation services, including maintenance, repair and modifications, digital services and training, to support the expected fleet growth.
Boeing projected that the India and South Asia aviation industry will also need approximately 1.41 lakh new professionals, including about 45,000 pilots, 45,000 technicians and 51,000 cabin crew, over the next two decades.
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Industry outlook
Boeing Managing Director of Commercial Marketing for Eurasia and the Indian Subcontinent Ashwin Naidu said, “As air travel becomes more integral to how people and goods move in India and South Asia, airlines will strengthen networks, scale fleets and invest in services and technical personnel to support long-term growth. More efficient, versatile airplanes will enable robust growth opportunities for the region’s established and emerging airlines.”
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