Bangalore: European aircraft manufacturer Airbus forecasts that Indian carriers will require 1,290 new passenger aircraft valued at US $190 billion between now and 2032 to satisfy the surging annual demand.
India's annual passenger traffic growth rate of 8.6% is well above the regional Asia Pacific average growth rate of 6.1% and the world average 4.7 %.
Of the requirement for 1,290 new aircraft Airbus said that 73% would be for growth and 27% for replacement.
By 2032, Airbus said that 36% of India's fleet would be wide-body aircraft, more than doubling today's level. This is a result of increased capacity of international as well domestic routes with larger aircraft like the A330 and A350s.
In passenger traffic terms domestic traffic is growing the fastest, increasing at almost 10% per year to 2032. Given the growth India's domestic traffic will be the world's third largest domestic market by 2032.
Read news in full 13/03/14 Anshul Dhamija/Times of India
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