Indian market needs 1,043 planes: Airbus1 min read . Updated: 15 Mar 2012, 06:53 PM IST
Indian market needs 1,043 planes: Airbus
Indian carriers will require 1,043 new passenger and cargo planes valued at $145 billion between now and 2030 to cater to surging demand, according to European plane maker Airbus SAS’ said on Thursday.
The country accounted for 15% of Airbus’s sales in 2011 and the plane maker has more than 70% market share.
The latest forecast says India would need 1,020 passenger and 23 freighter planes.
Of the requirement for 1,020 new passenger aircraft, about 860 will be for growth and 160 will replace older aircraft in the existing fleet of 327. By 2030, this means India’s passenger fleet will more than triple to about 1,180 planes.