India’s Airline Industry Poised for Growth with Over 1,100 Planes on Order by Domestic Carriers
India’s aviation industry is set to soar with domestic carriers placing orders for over 1,100 planes, according to recent reports. The Tata Group-owned Air India, for example, announced on Tuesday its plan to acquire a total of 470 planes from Airbus and Boeing after a gap of over 17 years, which marks the largest single aircraft order by an Indian carrier to date. The order includes both wide-body and narrow-body aircraft.
IndiGo, the country’s largest airline, has around 500 planes on order, while Akasa Air has placed an order for 72 Boeing narrow-body aircraft, out of which 16 planes have already been delivered. Go First and Vistara are also expanding their fleets, with Go First ordering 72 planes and Vistara receiving 17 more Boeing planes.
In total, Air India, IndiGo, Akasa Air, Go First, and Vistara have ordered at least 1,115 planes. Currently, there are around 700 commercial aircraft in the country, with the majority being narrow-body or single-aisle planes.
India’s aviation market is one of the fastest-growing in the world, with Boeing projecting that the country will require around 2,210 new planes in the next two decades. Prime Minister Narendra Modi recently stated that the country’s aviation sector would need over 2,000 aircraft in the next 15 years. Aviation consultancy CAPA has also forecasted that Indian carriers will place orders for 1,500 to 1,700 planes in the next one to two years.
Air India CEO and Managing Director Campbell Wilson has noted that the airline has secured additional options and purchase rights, which could potentially lead to further growth and help manage risk. Air India’s latest order comprises 250 planes from Airbus and 220 planes from Boeing.
The new order marks the first for Air India in over 17 years and the second for an Indian airline post the pandemic. IndiGo was the first airline to have placed the largest aircraft order in Indian history, followed by SpiceJet and Go First.
According to a recent report by CAPA, the total commercial Indian fleet of around 700 aircraft is smaller than some of the world’s largest individual airlines, indicating a need to induct more aircraft in the future. With the immense potential for growth in India’s aviation market, the country is set to become a key player in the global airline industry.
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