India will need 2,300 airplanes worth $320 billion in the next 20 years, aircraft maker Boeing said on December 19. In rupee terms, the amount would be around Rs 22,45,364 crore.
As much as 85 per cent of the planes would be narrow-body and the rest would be wide-body.
The forecast is for the 2018-2037 period.
According to Boeing, India would need 1,940 single-aisle planes worth $220 billion and 350 wide-body aircraft valued at $100 billion.
Around 10 regional jets worth less than $1 billion would be needed during the 2018-2037 period.
“India continues to grow at a faster pace,” Dinesh Keskar, Senior Vice President (Asia Pacific & India Sales) at Boeing Commercial Airplanes said.
He also noted that the aviation market in India is “quite challenging” as most airlines are not making money even as there is strong passenger growth.