New Delhi: US based aircraft manufacturer Boeing predicts India will require 911 new aircraft over the next 20 years - that's almost 50 more aircraft every year.
Today Indian airline companies have more aircraft on order than up in the sky. Over the last two years airlines in India have ordered over 350 aircraft - significantly more than the 250 that they have added over the last 50 years.
This $40 billion order size is set to double in the next 20 years. Boeing says India will add 911 aircraft worth $86 billion by 2027.
But it also adds that like most other markets India will need more smaller aircraft rather than the A-380 variety.
Boeing Senior VP Dinesh Keskar says, “Markets like India Singapore, the frequencies are rising and to more points. These countries have come down to 300 seater aircraft from 400 seater. ”
Boeing says that over 70 per cent of aircraft in India will be small. While Boeing's forecasts for India seems quite optimistic, it still has concern over the sustainability of airline companies in India.
“The concerns will be there till the sector bounces back to profitability. No one can remain in the long-term will losses,” adds Keskar.
Boeing feels - India has shopped for enough aircraft to last it through 2012. It expects big orders like the 68 aircraft Air India order to slow down for sometime though smaller orders of 5-10 aircraft will keep trickling in.
India will account for 10 per cent of Boeing's total orders by 2027- that’s surely makes India a hi-flyer on Boeing's customer list.
(With Sujata Goel)