This is the fastest-growing civil aviation market: India will need 2,840 new aircraft over the next 20 years
India will need 2,840 new aircraft over the next two decades to meet the demands of its growing civil aviation market. This was announced on Thursday by Airbus President and Managing Director for India and South Asia, Remy Maillard.
Speaking at a press conference on the sidelines of the Wings of India 2024 exhibition, he stated that over the same period, India will require 41,000 pilots and 47,000 technicians. The aircraft manufacturer has revised its forecast for India's aircraft demand upward. In 2022, it estimated the demand at 2,210 aircraft," as reported by Social News Xyz.
"Global aviation is returning to India, and we are only seeing the beginning of what is to come given the potential of the Indian aviation industry," said Remy Maillard, adding that India will be a driving force for global aviation.
Maillard highlighted that India's economic fundamentals are strong, with robust growth drivers such as the demographic dividend and urbanization. Despite significant growth in recent years, India's per capita air travel remains low at just 0.13 compared to 0.5 in China.
Maillard stated that India will continue to be the fastest-growing civil aviation market in the world over the next two decades, with a growth rate of 6.2% compared to the global average of 3.6%.
He mentioned that Airbus is observing substantial demand for aircraft orders from India. In 2023, the company received a record 750 aircraft orders, including 500 aircraft from IndiGo and 250 from Air India. Last year, Airbus delivered 75 aircraft to Indian carriers: 41 to IndiGo, 19 to Air India, 14 to Vistara, and one to Go First.
Maillard also noted that India is investing around $12 billion in the construction of new airports and the renovation of existing ones. The country aims to build approximately 200 airports over the next five years, up from the current 150. He expects the company's purchases in India to double to $1.5 billion.