Boeing, a US-based aircraft manufacturer, anticipates Indian airlines would increase their capacity by at least 25% during the upcoming year. Even if it may progressively slow down, the plane manufacturer nevertheless predicted that the nation’s aviation market would grow at the fastest rate, at 7% annually, through 2040.
At the moment, customers of Boeing include SpiceJet, Aksa Air, and the Air India group.
“We are forecasting airlines to rebound quickly and add 25%-plus percent annual seats back into the market,” Dave Schulte, the managing director for regional marketing at Boeing Commercial Airplanes said.
Through 2040, Indian airlines will see the fastest rise in aviation traffic, increasing at a 6.9% annual pace. According to a presentation by Boeing, the market in South East Asia is expected to develop at a rate of 5.5%, followed by China (5.4%), Africa (5.4%), and Latin America (4.8%).
However, Boeing emphasized a number of hazards faced by Indian airlines, such as high fuel costs and low ticket yields. The company claims that while Indian airlines can offer some of the lowest tickets in the world for comparable flight distances, their fuel costs are 90 percent greater than those of their international competitors.
A portion of the forthcoming huge order from Tata-owned Air India is what Boeing anticipates receiving.