Brent McBratney, Airbus' Head of Airline Marketing for India and South Asia, presented a detailed presentation on how the plane manufacturer views the Indian aviation business in terms of future aircraft demand. According to him, Airbus anticipates Indian airlines will require 2,210 aircraft over the next 20 years, with narrowbodies accounting for around 80% of the total. McBratney was speaking at the Wings India 2022 exhibition, Asia's largest civil aviation event, which is taking place at Begumpet Airport in Hyderabad.
Despite the tremendous damage caused by the COVID pandemic to the global aviation sector, the Indian market appears to be recovering quickly. According to McBratney, the country's air passenger traffic would expand at a rate of roughly 6.2% each year until 2042, the fastest in the world. To put things in perspective, the worldwide average growth rate for the same time is predicted to be 3.9 %.
Airbus isn't the only company that expects India to develop rapidly. Boeing predicted that the country's market will increase at a rate of 5% per year for the next 20 years in a research issued last year. Boeing's aircraft requirements forecasts, at 2,230, were likewise quite similar to Airbus' figures.
Airbus estimates that about 1,770 of the 2,210 aircraft stated in the prediction will be narrow-bodies. Over the next two decades, India's many low-cost airlines will employ these planes to expand and replace their present fleet. Even today, narrow-bodies from the Airbus A320 or Boeing 737 family account for more than 80% of all planes flying in India.
By maintaining affordable tickets and making air travel accessible to the public, LCCs have proven to be immensely useful in growing traffic on Indian domestic routes. Airbus jets are currently used by practically all Indian airlines for domestic flights. Furthermore, LCCs such as IndiGo and GoFirst have an all-Airbus fleet consisting of A320 family aircraft. Overall, Airbus has a monopoly in the Indian narrow-body market, with over 80% of the market share.