Airbus expects China, India to drive jet sales over 20 years

Airbus predicted China and India will be key growth drivers for the aviation industry in the next two decades as the planemaker expects the global commercial fleet will double in the period. The company anticipates the world will have 48,230 aircraft in 2043, compared with 24,240 planes at the start of this year, according to Airbus’s annual Global Market Forecast. About 45% of all new plane deliveries will be to replace older, less fuel efficient aircraft, according to the forecast. “The Indian carriers are expanding their international and their widebody operations that had historically been served by foreign carriers,” Joost Van Der Heijden, Airbus’s head of marketing, said on a call. Carriers in India have loaded up on new plane orders as demand for flying soars with a growing middle class. Market leader IndiGo has more than 1,000 aircraft on order, including a recent agreement for its first long-haul jets, while recently privatized Air India is looking to shore up its fleet and ramp up services across its network. Airbus also projected demand for widebody jets to be 8,920 planes, about 9% higher compared with the 2023 forecast. This includes 940 freighters, a 2% increase from last year’s prediction. The increase in twin-aisle demand was driven by North and South America, while forecasting a slight reduction in the Middle East, where hub carriers have made it the biggest market for the type. <br/>