Underscoring the new civil aviation policy announced by the government recently, Boeing the world’s leading aircraft maker said that it can spur a 'potential demand' for more wide-bodied planes. It said that the aviation policy has many growth-oriented aspects, including regional connectivity scheme and the decision to replace 5/20 overseas flying norm with 0/20 rule. Globally, Boeing has forecast a demand for 39,620 new aircraft over the next 20 years, with Indian carriers accounting for over 4.6 per cent of the total demand.
The US plane maker termed the Indian aviation sector, the fastest-growing market in the world in terms of passenger traffic, which will spur a potential demand and said that the country will need as many as 1,850 new airplanes worth $ 265 billion over the next 20 years.
Boeing further said that the new civil aviation policy, which lays emphasis for increasing regional connectivity and has made it easier for domestic carriers to start international operations, would further push growth. This rising demand will be driven by single-aisle planes such as the 737 Max and Next-Generation 737s from Boeing and A320 Neos from its arch rival Airbus. Giving a break-up of the demand in his report the single-aisle planes will continue to account for the largest share of new deliveries, with airlines in India needing approximately 1,560 airplanes and it also require of 10 regional jets and 280 wide-body planes. These new planes will support the growth of low-cost airlines and replace older, less-efficient airplanes.
Recently, the government overhauled rules for aviation industry, liberalising norms for domestic carriers to fly overseas and spreading the country’s air travel boom to smaller cities by capping airfares and opening new airports.