Boeing Predicts Surge in Commercial Aircraft Demand in India and South Asia through 2043
Boeing projects a significant rise in commercial aircraft operations in India and South Asia over the next two decades, anticipating the addition of 2,835 new jets to regional fleets. This four-fold increase over current levels reflects the region's expanding middle class and robust economic growth, driving increased demand for air travel.
According to Boeing's market forecast, single-aisle aircraft will account for approximately 90% of deliveries, with 2,445 units expected. Additionally, widebody fleet size is projected to quadruple, with the addition of 370 aircraft. The planemaker anticipates average annual air traffic growth of over 7% in the region through 2043.
India remains the world's third-largest domestic aviation market and is experiencing the fastest growth rate globally. IndiGo and Air India hold the top two airline positions, with approximately 1,800 aircraft on order from international planemakers. Cirium Ascend estimates that Indian airlines are scheduled to take delivery of 130 jets in 2023.
However, the global airline industry faces challenges in procuring aircraft on time due to supply chain issues affecting Boeing and Airbus. Boeing's deliveries faced a decline in 2024, partly attributed to a significant strike. Despite these setbacks, the planemaker reported progress in ramping up production.
The Indian aviation sector also encounters challenges, including currency fluctuations, volatile jet fuel prices, lower-than-average airfares, and an imbalance in long-haul market share with foreign carriers.