Airbus, which currently has more than 300 aircraft in operation in India flown by various airlines, has 530 aircraft in its India order book, it said in its 20-year India Market Forecast at aviation event Wings India 2018.
India, said Airbus, will need as many as 1,750 new passenger and cargo aircraft over the next two decades to meet the exponential rise in both passenger and cargo traffic.
“By 2036, Indians will each make four times as many flights as today,” it said, adding that traffic serving the Indian market is forecast to grow 8.1% per year over the next 20 years, almost twice as fast as the world average of 4.4%.
While much of the future air traffic growth is expected to be driven by the fast expanding economy, rising wealth and urbanization, ambitious government-backed regional connectivity programmes are also set to enhance demand for air travel, added Airbus.
India is set to overtake the UK to become the third largest air passenger market by 2025. China will be the top market, followed by the US, the International Air Transport Association said in a report in October 2017.
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