New Delhi July 31 (IANS) Global aerospace major Boeing on Monday said it expects a demand for 2 100 new aircraft in India valued at $290 billion over the next 20 years.
According to the company s 2017 annual current market outlook (CMO) for India factors such as high passenger traffic and growth of low-cost carriers will lead to the fulfilment for the demand forecast.
"Commercial aerospace demand in India continues to grow at unprecedented rates " said Dinesh Keskar Senior Vice President Asia Pacific and India Sales Boeing Commercial Airplanes.
"The increasing number of passengers combined with a strong exchange rate low fuel prices and high load factors bodes well for India s aviation market especially for the low-cost carriers " he said.
Currently passenger traffic growth in India is more than 20 per cent which far exceeds the global average of 7.3 per cent.
Segment-wise the company s annual CMO pointed out that single-aisle airplanes such as the "737 MAX" family will continue to account for the largest share of new deliveries.
The company expects the airlines in India to need approximately 1 780 single-aisle airplanes in the next 20 years.
"The 737 MAX is the fastest-selling airplane in Boeing history because customers throughout the world including India want its combination of performance flexibility and efficiency " Keskar said.
In addition Boeing projected a worldwide demand for 41 030 new airplanes over the next 20 years with India passenger carriers needing more than 5.1 per cent of the total global demand.
The company s CMO is the longest running jet forecast and regarded as the most comprehensive analysis of the aviation industry.
--IANS
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