According to Airbus’ latest market forecast, Indian carriers will require 1,290 new passenger aircraft valued at US$190 billion between now and 2032 to satisfy surging annual demand. Indian annual passenger traffic growth rates of 8.6 per cent are well above the regional Asia Pacific average growth rate of 6.1 per cent and the world average 4.7 per cent.
Of the requirement for 1,290 new aircraft, some 73 per cent will be for growth and 27 per cent for replacement. The new passenger aircraft include 913 single aisles like the A320 and A320neo Family, 322 twin aisles like the A350 XWB and A330, and 56 very large aircraft such as the A380. By 2032, today’s fleet of 343 aircraft will more than triple to some 1,233 aircraft.
By 2032, Airbus forecasts that 36 per cent of India’s fleet will be wide-bodies, more than doubling today’s level. This is a result of increased capacity of international as well domestic routes with larger aircraft like the A330 and A350s.
In passenger traffic term, domestic India is the fastest growing flow increasing at almost 10 per cent per year to 2032. In 2032, India domestic traffic will be the world’s third largest domestic market. In addition, five of the world’s top 20 fastest growing flows, connect India. Today one in 20 Indians travel by air and in 2032 this will increase fivefold to a quarter of the population taking at least one flight. Along with China, more people will experience the benefits of aviation for the first time in India than anywhere else.
“By 2032, the number Indian cities with more than a million passengers every month will have grown to 13 from today’s two. This exponential growth will continue to drive the need for larger aircraft like the A380 to operate in the country. As the people of India fly more and the number of first time flyers increases, demand for the latest generations of aircraft will also increase making India on of the largest and most dynamic markets in the world,” said Dr. Kiran Rao, EVP Strategy and Marketing, Airbus.
The Indian Institute of Management Bangalore (IIMB) and Toulouse Business School have signed an agreement to set up India’s first Executive General Management Programme in Aerospace and Aviation Management as a first step towards collaborating in teaching and research . As part of its commitment to develop aerospace management education in India, Airbus is sponsoring the two year part-time degree programme to develop and nurture local talent in the field of aerospace.
The Aerospace MBA will be the first of its kind in India and is conducted by Toulouse Business School, whose own established and respected Aerospace MBA course has a strong business focus. Each year up to 75 students will be enrolled in the course.
“India is one of the fastest developing countries in the aviation market and is also one of the richest talent pools for the next generation of business leaders and we want the best to enter the exciting world of aviation. With more passengers flying each year in India, there is an increasing need for expertise in aviation business,” said Dr. Dwarkanath Srinivasan, CEO, Airbus India.
The partnership has been established to address the need to develop the next generation of India aviation professionals.
