NEW DELHI: India’s domestic air travel is “leading global recovery” for aircraft being used for flights within a country during the pandemic, Boeing said on Wednesday while presenting its annual current market outlook (CMO) for the next 20 years. While closely watching impact of the ongoing sharp surge in Covid cases in India and resultant restrictions, the US aerospace major expects domestic air travel to return to the pre-Covid 2019 levels before the end of this year and then double by 2030.
“Despite significant impact of Covid-19 on demand, the same is expected to recover to 2019 levels by second half of 2022. Domestic demand expected to recover first to 2019 levels through 2021. International traffic forecast to follow with full recovery through 2023. India overall demand to double by 2030,” Boeing’s CMO says. Visiting friends and relatives (VFR) segment will lead recovery in air travel, followed by leisure and then business travel.
With India expected to lead global economic growth in GDP terms over the next two decades — overtaking China in that period, — Boeing estimates the country will require 2,230 new aircraft by 2040. India is expected to have a fleet of 2,340 aircraft, up from current about 600.
