DUBAI: South Asian and Indian carriers will expand 2835 commercial jets to their fleet by 2043, a 4-fold hike from the current level, Boeing said in its regional Commercial Market Outlook.
India's air travel industry is growing fast, even though only a small number of people fly each year. As demand rises, airplane manufacturers are looking to secure big deals at the Aero India exhibition starting Monday, February 10, 2025.
The International Air Transport Association (IATA) will also hold its annual meeting in June in New Delhi, showing India's strong position in the global aviation market.
With a booming economy and a growing middle class, India has become the third-largest air travel market in the world, after the United States and China. "India is the rising star of global aviation," said Remi Maillard, head of Airbus India and South Asia. He added that India is the fastest-growing aviation market and will stay that way for the next 20 years.
Boeing, Airbus's main competitor, is just as optimistic. "It is the most exciting and dynamic market in the world," said Boeing India chief Salil Gupte.
More Air Travelers in the Future
India's aviation industry is growing rapidly, with Boeing predicting air traffic in South Asia, especially in India, will increase by more than 7% every year till 2043. Currently, very few Indians travel by plane, just 0.12 trips per person per year, compared to 0.46 in China. This shows how much room there is for growth.
Many Indians still prefer trains, as they are cheaper and widely available. However, railway travel can be slow and chaotic. Boeing estimates that if even 2% of India's 18 million daily train passengers switch to flying, the air travel market could double.
Government Support for Air Travel
Since taking office in 2014, Prime Minister Narendra Modi has made expanding air travel a key goal. He launched a plan in 2016 to improve air connections between small towns and major cities. "A common man who wears slippers should also be able to fly," Modi once said.
The number of airports in India has more than doubled in 10 years, from 74 in 2014 to 157 in 2024. The government is investing heavily and aims to have 350–400 airports by 2047, when India celebrates 100 years of independence.
India is also training more aviation professionals, planning to prepare 30,000 pilots and an equal number of mechanics in the next 20 years. Airbus and Boeing are key partners in this effort, with a focus on promoting women in the field.
A Growing Market for Bigger Planes
Airbus and Boeing believe the next big growth in India's aviation industry will be in international flights. "The same revolution we saw in domestic travel is now happening in long-haul flights," said Airbus’s Maillard. Boeing expects more orders for large planes, predicting they will make up 15% of India's total aircraft fleet in the next 20 years.
By 2043, Boeing estimates that India will need 2,835 new planes i.e about 75% for market growth and the rest to replace older aircraft. Airbus delivered 72 planes to Indian airlines in 2024 alone, accounting for nearly 10% of its global deliveries.
Huge Orders from Indian Airlines
India's airlines are placing massive orders. In 2023, Air India ordered 470 planes, i.e. 250 from Airbus and 220 from Boeing, and added another 100 Airbus aircraft in 2024. IndiGo, India's largest airline, made history with an order of 500 Airbus planes in 2023 and purchased 30 more last year.
Both Airbus and Boeing are eager to finalize more deals at the Aero India exhibition, but neither has revealed specific details yet.