Boeing is forecasting demand for 1,740 new commercial aircraft in India over the next 20 years, with the majority of the requirements in the narrowbody market segment.

In its 20-year forecast, the airframer expects the Indian market to require 1,460 new single-aisle jets, 260 widebodies and 20 regional jets. This represents 4.6% of the forecast deliveries worldwide, amounting to some $240 billion in value.

Boeing projects worldwide demand for 38,050 new aircraft over the next 20 years, about 38% of which will come from Asia.

“India’s economy and the country’s potential for air travel growth – both for leisure and business – continues to be strong and we remain confident in the Indian commercial aerospace market,” says Dinesh Keskar, senior vice president of Asia Pacific and India sales at Boeing Commercial Airplanes.

The number of low-cost carrier in the country is also expected to grow to cover more than 30% of the Indian market, adds Boeing.

Source: Cirium Dashboard