Aviation Outlook in India: Passenger aircraft fleet to double by 2027
It has been forecast by international aircraft leasing company Avolon, in its white paper "India, a 21st Century Powerhouse", that India's current passenger jet fleet will double.
Aviation is set to really take-off in India. Forecast is that passenger aircraft fleet will double to 1,100 by 2027. Total value of aircraft is projected to be $60 billion.
Currently, airlines in India operate almost 600 passenger aircraft. This comprises 75% of narrowbody, 11% of widebody, 14% of regional aircraft.
Domestic passenger demand in India is expected to grow at an average annual rate of 9.6% over the coming decade.
An 8.3% growth rate is forecast for international passengers in India. In 2017, 22.8 mn international passengers were carried by airlines in India. This was an increase of 14% on the previous year.
Almost 117 mn domestic passengers were carried in 2017. This was a 17.4% increase on 2016. India's annual domestic passenger growth has averaged 15% since 2012.