|Published: July 2017|
Delhi. Boeing forecasts a demand for 2,100 new airplanes in India, valued at $290 billion, over the next 20 years. The company released July 31st as part the new numbers of its annual Current Market Outlook (CMO) for India during a briefing in Delhi.
“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.”
Single-aisle airplanes, like the 737 MAX family, will continue to account for the largest share of new deliveries, with airlines in India needing approximately 1,780 airplanes.
“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,” said Keskar. “Boeing also continues to offer the most complete family of widebody airplanes, as evidenced by our more than 85 percent in-service market share in India.”
Other important findings from the annual outlook include:
· Traffic growth is more than 20 percent, far exceeding the global average of 7.3 percent
· Domestic passenger traffic increased 23 percent from 2016
· Low-cost carriers continue to account for more than 60 percent of all flights
Boeing projects a worldwide demand for 41,030 new airplanes over the next 20 years, with India carriers needing more than 5.1 percent of the total global demand. Boeing’s Current Market Outlook is the longest running jet forecast and regarded as the most comprehensive analysis of the aviation industry. The full report can be found at www.boeing.com/cmo.
Forward-Looking Information Is Subject to Risk and Uncertainty
Certain statements in this release may be “forward-looking” within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “expects,” “forecasts,” “projects,” “plans,” “believes,” “estimates” and similar expressions are used to identify these forward-looking statements. Examples of forward-looking statements include statements relating to our future plans, business prospects, financial condition and operating results, as well as any other statement that does not directly relate to any historical or current fact. Forward-looking statements are based on current assumptions about future events that may not prove to be accurate. These statements are not guarantees and are subject to risks, uncertainties and changes in circumstances that are difficult to predict.
Many factors could cause actual events to differ materially from these forward-looking statements, including economic conditions in the United States and globally, general industry conditions as they may impact us or our customers, and other important factors disclosed previously and from time to time in our filings with the Securities and Exchange Commission. Forward-looking statements speak only as of the date they are made and we undertake no obligation to update or revise any such statement, except as required by law.