South Asia will need 3,300 new aircraft by 2044: Boeing
What's the story
Boeing has projected that airlines in India and other South Asian nations will require almost 3,300 new aircraft by 2044. The prediction comes as a response to the growing demand for air travel in the region. The US aerospace giant's Commercial Market Outlook (CMO) for South Asia report said that narrow-body aircraft will account for nearly 90% of these deliveries at about 2,875 units.
Growth forecast
Rising passenger air traffic and workforce requirements
Boeing also projected an average annual growth of 7% in passenger air traffic for India and South Asia over the next two decades. This growth is expected to be driven by a burgeoning middle class, economic expansion, and investments in airports and connectivity. To meet this demand, airlines will need nearly 45,000 pilots, 45,000 technicians, and 51,000 cabin crew members within the same period.
Fleet expansion
India's airline fleet to quadruple by 2044
Boeing's report highlights India as a key growth market, with its airline fleet expected to quadruple over the next two decades. This massive expansion will be driven by both growth and replacement needs. The CMO also predicts Indian and South Asian airlines will expand their long-haul networks as India cements its position as a major international passenger and cargo hub.
International connectivity
South Asia's widebody fleet to triple by 2044
Boeing's report also predicts that the South Asian region's widebody fleet will more than triple by 2044. This expansion will allow millions of Indian and South Asian passengers to travel to international markets like the Middle East, Europe, and North America. The CMO further estimates that investments in aviation services including maintenance, repair and modifications, digital services, and training will exceed $195 billion in the region.