A Kingfisher Airbus lies idle in Mumbai airport
THE INDIAN aviation market will need 1,043 new planes worth around $145bn (£92.16bn) by 2030, the European plane maker Airbus said yesterday.
“According to Airbus’ latest market forecast, Indian carriers will require 1,020 new passenger (planes) and 23 freighter aircraft valued at $145bn between now and 2030 to satisfy surging annual demand,” a statement said.
The forecast was slightly higher than one made a year ago by Airbus, one of the world’s leading plane makers along with US rival Boeing.
India’s aircraft market is currently ranked fourth worldwide, both in terms of the number of planes and value, Airbus said.
Passenger traffic in India is growing by 7.2 per cent annually, well above the average rate of 5.9 per cent for the Asia/Pacific region and the global average of 4.8 per cent.
“Growing urbanisation and population concentrations combined with a growing middle class and dynamic economic growth are driving demand and this trend is expected to continue,” the plane maker noted.
Airbus has ties to India that go back almost 40 years and in 2006 it set up the Airbus Engineering Centre India in Bangalore, where around 250 engineers work on analysis and the development of new products.
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