Airbus expects Indian aviation mkt to grow in single digits for next 20 yrs

However,according to Airbus the Indian aviation market will grow faster than the global market

European aerospace major Airbus expects the Indian aviation market to grow in single digits for the next 20 years as Covid-19 has impacted the growth of air travel.

According to Airbus, the Indian aviation market will grow at 6.2 per cent for the next 20 years. It similarly expects the global aviation market to grow by 3.9 per cent.

Before Covid-19 hit the business of aviation, the Indian market was growing consistently at double digits with traffic more than doubling from around 61 million in 2013-14 to around 137 million in 2019-20, registering a growth of over 14 per cent per annum.

The 6.2 per cent growth will largely be pushed by domestic traffic and nearby countries, a projection by the company which sells the A320 aircraft, which is the most popular in the Indian market, said. According to the company, Indian airlines will order 2,210 aircraft in the next 20 years with 1,440 aircraft being narrow bodies.

However, the company is very bullish on the growth of the long haul market in India." The growth in India has While the widebody fleet in India has remained almost stagnant. However, we believe that the next phase of growth will come from wide bodies," Airbus India President Remi Maillard said.

Airbus is pitching the A350 to Air India as the airline looks to revamp of its fleet after change of ownership from government to Tatas.