Airbus A380-800 SeriesAirbus A380-800 Series. The aircraft maker expects India will need more than 1,600 new passenger and cargo aircraft by 2034 to keep pace with demand growth. In a report released at the fair in Hyderabad Air India Aviation study, the European airframer estimates that the total value of sales will come in around USD 224 billion. 1,600 aircraft comprise 1,230 aircraft and 380 single-aisle widebody aircraft as cargo.
The aircraft sales forecast is based on a projection that traffic growth in India will reach 8.4% annually over the next 20 years - above the world average of 4.6%. Indian domestic traffic will grow at a faster pace of 9.3%.
India will become "a leader in the emerging market of aviation" and "the third largest aviation market by 2034," predicts Airbus. "Aviation in India has a bright future," says executive vice president of marketing and strategy Kiran Rao. "As the industrial strength of India grows, along with it comes the economic development, wealth generation and an increase in the number of normal people and for the first time."
Joost Van der Heijden, vice president of marketing for Asia, expects an average of Airbus aircraft to be delivered a week in India over the next 10 years. In addition, Airbus predicts that by 2035 the number of cities in India, with over a million monthly passengers will more than triple.