Loading...Last Updated: 19-Mar-2016
Airbus estimates a demand for 1,600 new passenger and freighter planes over a period of 20 years. The combined value is estimated at list price of $224 billion. Forecast for aircrafts have gone up by 300 airplanes over the last two years of economic growth, increasing urbanization, easing of tourism visa and trade. As a result, traffic serving the Indian market is set to grow at 8.4% per year over the next 20 years, well above the world average 4.6%. Domestic Indian traffic will grow more quickly at 9.3%-making India the world's leading emerging aviation market. The estimates are that India will need 1,230 new single aisle planes and 380 wide-bodied planes.