India's passenger aircraft fleet to see 5-fold jump in 20 years: Report

Currently, India’s fleet share stands at 8 percent, the Cirium report said.

Over the next 20 years, India’s domestic passenger fleet is set to jump from 720 at the end of 2023 to more than 3,800, a five-fold increase, a report has said. The growth will take India’s share in the Asia-Pacific passenger fleet to 18 percent by 2043, Cirium Fleet Forecast 2024, which was accessed by Business Today, said.

At present, India’s fleet share stands at 8 percent, the report by the aviation analytics firm said.

The firm said this year, amid India’s growing footprint in the global aviation space, has focused on the country separately from the Asia Pacific region for the first time.

Moneycontrol couldn’t verify the report independently.

In 2023, India had the second-largest order volume for aircraft only behind the US. By the end of 2024, the country is expected to have ordered around 2,000 aircraft, a majority of which would have been secured by Air India, IndiGo and Akasa.

In Asia, China will lead the pack, with the communist nation accounting for 20 percent of the total deliveries globally, nearly equal to North America’s share, the report said.

Asia will contribute 45 percent towards new deliveries. China’s fleet share will grow at 4.3 percent over the next 20 years compared to India’s 8.7 percent annually.

With 18 percent, Europe will hold the third-largest fleet share, it added.