Upbeat over the long-term growth prospects of India’s civil aviation sector notwithstanding the temporary cyclical setbacks to the economic growth, global aeronautics giant Airbus has projected a requirement of nearly 1,900 new aircraft for the country over the next two decades.
Unveiling the Market Forecast report in Hyderabad on Thursday during the global aviation summit — Wings India 2020 — Airbus India and South Asia managing director Anand Stanley said their prognosis was conservative compared to the Indian government’s projections.
“Our analysis is fairly detailed and thorough that covers the next two decades and includes cyclicality,” he said responding to a query on the impacts the slowdowns and Coronavirus would have on aviation sector.
“We are bullish on India as a fast growing civil aviation market because of the fundamentals of the demographics, which are not driven by the weekly or monthly events but are more long term in nature and not cyclical in nature.”
The Airbus report said India is set to become one of the world’s largest economies, with some of the world’s fastest growing cities in terms of GDP including Hyderabad, Chennai and Bengaluru.