Boeing forecasts 1,320 new aircraft for India in 20 years

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Boeing has forecasted that India will need 1,320 new passenger aircraft worth $150 billion in the next 20 years.

Passenger traffic in the country is expected to grow at 8.1% annually over the long term, said Boeing.

Aircraft for short and long-haul routes will be in demand, said Boeing India President Dinesh Keskar.

"This demand is driven by growth in developing and emerging cities, demand from low-cost carriers and the need to replace an aging fleet," he added.

The biggest demand will be for single-aisle aircraft, said Boeing.

"Boeing predicts that India-based airlines also will grow by responding to passenger preference for more flight choices, lower fares and direct access to a wider range of destinations. Air carriers will focus on offering more flights using more efficient airplanes, instead of significantly larger airplanes," said the airframer.