The order book of Indian carriers is expected to touch 1,123 aircraft in the coming weeks with new orders from Jet Airways and Vistara, aviation think tank CAPA said today.
Dominated by narrow-body planes, the order book would be the third largest for any country after the US and China.
Citing its earlier research, CAPA said Jet Airways is expected to place an order for another 100 narrow-body aircraft, while Vistara is likely to order 50 narrow-body planes and 50 wide-bodied ones.
Jet Airways and Vistara are full service carriers.
"With these planned acquisitions, India's order book will reach 1,123 aircraft -- the third largest in the world after the USA and China. And its ratio of 2.2 aircraft on order for every aircraft in service would be the highest of any major aviation market," CAPA said in a report.
Out of the current order book for 923 aircraft, over 85 per cent are from low cost carriers.
"Of the expected 1,123 aircraft on order, more than 700 are scheduled for delivery within the next decade and 400 within the next five years," CAPA said, adding that the figure excludes orders yet to be placed and equipment to be taken on lease.
Among others, no-frills carriers IndiGo and SpiceJet have also placed orders for new aircraft.
"IndiGo has the largest in-service fleet in India, at 135 aircraft and the largest order book of any airline in the world at 458 aircraft.
"Its fleet could expand by up to 46 aircraft during this financial year - a net addition of almost one aircraft a week," the report said.
CAPA also said aircraft induction on this scale would require massive infrastructure development, skilled resources, and aircraft financing at a pace never seen before in India.
"India might experience the entry of 1-2 new large start-ups in addition to the incumbent airlines, including Qatar Airways' proposed venture," it added.
India is one of the fastest growing aviation markets in the world and has been registering double-digit growth for more than two years.
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