Airbus estimates a demand of 1600 aircrafts over 20 years

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.

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Indian Aircraft Sector - Overview

India is trying to establish a bustling aerospace sector for long, considering the huge potential in aviation. It is also one of the fastest growing market in the world. Many forecast suggest a rapid increase of demand of aircrafts and local production of the same will lead to higher savings. There were several ambitious programme to build passenger aircraft, fighter jets and helicopter and none so far achieved a greater success. But with 'Make in India' initiative, major aerospace companies operating in India like Mahindra are looking to expand production. Another initiative is to produce advanced high tech fighter jets like Rafale in India which could work as a catalyst. Compared to space industry, ISRO, the aerospace is yet to see more success.

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