India will need 1,900 planes by 2038: Airbus

TIL Desk/Business/Hyderabad/ The world”s largest aircraft manufacturer Airbus on Thursday forecast that India will need nearly 1,900 new aircraft by 2038 and the country”s air traffic growth will be 7.7 per cent, almost twice the expected world average of 4.3 per cent. India”s domestic traffic growth over 2018-2038 period is projected at 8.2 per cent, one of the world”s highest. The international traffic growth for the country is pegged at 5-7 per cent.

Anand Stanley, President and Managing Director, Airbus India & South Asia told a news conference here on Thursday that they were bullish on the Indian market but their forecast was conservative and has taken into account cyclical events like coronavirus.

He said out of 1,880 aircraft required, 1,670 will be small and 210 in medium and large categories. Some 1,440 aircraft are for growth and 440 are needed to replace aircraft that will be retired. Taking into account the 440 retirements, India”s existing domiciled fleet of 510 aircraft will quadruple to 1,950 by 2038, he said.