Boeing (BA) said passenger air traffic in India and South Asia is expected to grow about 7% a year over the next two decades, driving demand for nearly 3,300 new commercial airplanes by 2044 as the region’s airline fleets expand and modernize.
In its latest Commercial Market Outlook for South Asia, Boeing (BA) said the region’s airplane fleet is projected to grow from 795 aircraft today to 2,925 over the next 20 years, nearly quadrupling in size as rising incomes, economic growth and investments in airport infrastructure fuel demand for air travel.
Domestic demand, international hubs
Single-aisle aircraft are expected to account for almost 90% of new deliveries, reflecting airlines’ focus on expanding domestic and short- to medium-haul international routes. Domestic travel within India is expected to underpin much of the growth, supported by a continued shift from rail to air transportation.
“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,” Ashwin Naidu, Boeing (BA) managing director of commercial marketing for Eurasia and the Indian Subcontinent, said in a statement.
Boeing (BA) said airlines in the region are also likely to broaden long-haul networks as India emerges as a larger international hub. The widebody fleet in South Asia is projected to more than triple by 2044, enabling increased connectivity to destinations in the Middle East, Europe and North America.
Air cargo growth
Growth in high-tech manufacturing and the expanding role of e-commerce are expected to lift demand for air cargo, with the region’s fleet of new and converted freighter aircraft forecast to grow fivefold over the next two decades.
To support the fleet expansion, Boeing (BA) estimates the India and South Asia aviation market will require more than $195 billion in aviation services, including maintenance, repair, modifications, digital services and training. The company also projects demand for about 141,000 new aviation professionals, including pilots, technicians and cabin crew, over the same period.