Airlines in India would require 2,380 jets in 20 years, says Boeing

Airlines in India are expected to place orders for up to 2,380 planes with global planemakers over the next 20 years, US aircraft maker Boeing said on Wednesday.

This is 80 more than Boeing predicted last year. 
Boeing’s estimate is based on the 20 per cent growth in India’s passenger traffic in recent years, which makes it one of the world’s fastest-growing aviation markets. Although the collapse of Jet Airways and a general economic slowdown affected the market badly, the aviation sector in India still holds the potential for growth, says Boeing.
Boeing, which is hit by crashes involving its 737 MAX planes, said the company expected the model to return to the US market in the fourth quarter.
Darren Hulst, a senior marketing executive at Boeing, confirmed that the company was working with regulators on returning the 737 MAX to service. 
Boeing’s trouble with the 737 MAX has helped European aircraft maker Airbus dominate the market. Only day before, Interglobe Aviation Ltd, which operates India’s top carrier IndiGo, placed orders for 300 A-320 neo aircraft with Airbus.
Boeing said its assessment of the commercial aircraft market shows continued opportunities for product innovation, fleet productivity and network expansion as the industry continues to evolve.
“From our first published market forecast in 1961, the number of commercial operators we forecast has increased to nearly 200 and passenger traffic has grown by a factor of nearly 70. More recently, since 2000, the global airline network has expanded 2.5 times, while industry innovation and productivity have enabled travellers to fly for nearly 40 percent lower average fares in real terms,” according to Boeing.