China, India seen as growth drivers of aviation industry

Airbus SE has predicted that China and India will be key growth drivers of the aviation industry in the next two decades as the planemaker expects the global commercial fleet to double during the period, according to Airbus’s annual Global Market Forecast. The company anticipates the world will have 48,230 aircraft in 2043, compared with 24,240 planes at the start of this year. About 45 per cent of all new plane deliveries will be to replace older, less fuel efficient aircraft, according to the forecast. Carriers in India have loaded up on new plane orders as demand for flying soars with a growing middle class. Market leader IndiGo has more than 1,000 aircraft on order, including a recent agreement for its first long-haul jets, while the recently privatised Air India is looking to shore up its fleet and ramp up services across its network, as per a report.