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Boeing anticipates aviation market in India would expand the fastest

At the moment, customers of Boeing include SpiceJet, Aksa Air, and the Air India group.

September 02, 2022 7:50 IST | India Infoline News Service

Boeing, a US-based aircraft manufacturer, anticipates that Indian airlines would increase their capacity by at least 25% during the upcoming year.

Even if it may progressively slow down, the plane manufacturer nevertheless predicted that the nation's aviation market would grow at the fastest rate, at 7% annually, through 2040.

At the moment, customers of Boeing include SpiceJet, Aksa Air, and the Air India group.

Through 2040, Indian airlines will see the fastest rise in aviation traffic, increasing at a 6.9% annual pace. According to a presentation by Boeing, the market in South East Asia is expected to develop at a rate of 5.5%, followed by China (5.4%), Africa (5.4%), and Latin America (4.8%).

However, Boeing emphasized a number of hazards faced by Indian airlines, such as high fuel costs and low-ticket yields. The company claims that while Indian airlines can offer some of the lowest tickets in the world for comparable flight distances, their fuel costs are 90% greater than those of their international competitors.

A portion of the forthcoming huge order from Tata-owned Air India is what Boeing anticipates receiving.

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