Aviation sector aiming high: Here's India's ten-year fleet outlook

The combined in-service fleet of Indian airlines is 588 (as of May  2018). The average age of aircraft in service is 7.1 years.
 
In the past 10 years, the total fleet has grown at an average rate of 4.8 per cent per annum.
 
Over 440 planes in India are on operating lease, spread among 43 lessors, making India one of the most diversified leasing markets.  Around 76 per cent of the fleet are on operating lease, which is highest in the world. 
 

Avolon is the largest lessor with 53 aircraft in India. GE Capital Aviation Services is ranked second with 39 planes followed by DAE Capital with 33. The 10 largest lessors in the market account for around 60 per cent of the leased fleet. Over the decade, domestic passenger demand is forecast to grow at an average annual rate of 9.6 per cent, while international passenger growth is expected to be 8.3 per cent
 
India’s current passenger fleet will double to almost 1,100 aircraft by 2027 — with the total value of aircraft to be delivered over the coming 10 years projected to be $60 billion (at current list prices).

Source: Avolon white paper