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Global aircraft manufacturers, Boeing and Airbus, today have said airlines in India would require greater number of planes to meet the growing needs of the air transportation.
While the Boeing's forecast indicated the country would require 1,600 planes valued at $205 billion in the next 20 years, in a lesser note, Airbus expects the demand to be 1,290 aircraft worth $ 190 bn between now and 2032.
The latest Boeing forecast was higher than the 1,450 aircraft, worth $175 billion, it had projected last year.
"Indian market is pretty attractive for sustained growth in air transportation," said Dinesh A Keskar, senior vice president sales for Asia Pacific and India.
Our forecast is pretty much in line with what the Indian government was thinking, he added.
"My forecast in 2000 highlighted Boeing would do $25 billion sales up to 2020. However, we have done more than that in the last four years," said Keskar.
According to the minister for civil aviation Ajit Singh, India's airplane fleet would grow to 1,000 from the existing 400, making it the world's third largest market after the US and China by 2020.
In its report, Airbus said: "Of the requirement for 1,290 new aircraft, some 73% will be for growth and 27 % for replacement. The new passenger aircraft include 913 single aisles like the A320 and A320 neo family, 322 twin aisles like the A350 XWB and A330, and 56 very large aircraft such as the A380. By 2032, today's fleet of 343 aircraft would more than triple to some 1,233 aircraft."
"As the people of India fly more and the number of first time flyers increases, demand for the latest generations of aircraft will also increase making India on of the largest and most dynamic markets in the world," said Kiran Rao, Airbus EVP Strategy and Marketing
By 2032, Airbus forecasts 36 % of India's fleet will be wide-bodies, 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.
