India's air traffic may grow annually by average 7% till 2040: Boeing

Boeing said on Thursday that India has on average 23 million people travelling using trains daily and even if one per cent of them shift to the aviation market, the air traffic will double

boeing
The US-based aircraft manufacturer said that India has lowest average fares in the world for similar distances.
Deepak Patel
2 min read Last Updated : Sep 01 2022 | 10:34 PM IST
Boeing on Thursday said the country’s air traffic will grow by an average of seven per cent per year till 2040 even as the country’s carriers face challenges like high fuel prices, rupee depreciation and low fares.

The aircraft manufacturer’s India president Salil Gupte said that while India’s air traffic will grow 6.9 per cent till 2040, the south-east Asian market will grow at an average annual rate of 5.5 per cent.

The Chinese, African and the Latin American market will grow at an average annual rate of 5.4 per cent, 5.4 per cent and 4.8 per cent till 2040, he added.

Gupte said that India has the lowest average fares in the world for similar distances.

They also said that 70 per cent of the airline’s operational costs is priced in foreign currency.

Gupte said that India has nearly 23 million people travelling on trains every day and even if one per cent of them shifts towards aviation, the air traffic will double.

India’s air cargo market has “massive untapped potential”, he said.

Boeing is always looking into the possibility of increasing raw material supplies from India, Gupte said.

"We have been working to try to enhance raw material supplies from India so that is going to be critical for indigenisation, both in defence and civil aerospace manufacturing space," he said. 

One subscription. Two world-class reads.

Already subscribed? Log in

Subscribe to read the full story →
Subscribe to Business Standard digital and get complimentary access to The New York Times

Quarterly Starter

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

Save 46%

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Access to Exclusive Premium Stories Online

  • Over 30 behind the paywall stories daily, handpicked by our editors for subscribers

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

Topics :Boeingindia air trafficcheap airfaresCargo industryAir trafficIndia airlinesIndian aviationAviation sectorVietnamAirAsiaaircraftsAirbus Boeing

Next Story