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Hyderabad : Boeing and Airbus remain upbeat over India's aviation growth potential. Airbus, in fact, on March 4 upped its 20-year global market forecast for the country, saying India will need 1,032 new aircraft worth $138 billion by 2028.
Its' last forecast released two years back had said that the country would need 992 aircraft worth $105 billion over the same period. Boeing's current market outlook (2009-2028) for India is only a shade a little less optimistic. The US major predicts the country will require 1,000 aircraft worth $100 billion over the next two decades. "There are all signs that Indian airlines are emerging from the recent downturn," said Boeing (India) head Dinesh Keskar.
The slowdown, according to Boeing, has had its impact on the face of Indian aviation. Low cost carriers are now driving growth here and full service carriers are responding to this challenge by adopting hybrid business models. Interestingly, the slowdown "has contributed to corporate travellers constituting over 35% of traffic on LCCs, up from 10% a year ago," Boeing's market outlook report says. Airbus vice president (sales, India) Miranda Mills said: "Indian market has recovered strongly and is poised for long term growth."
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