Though high prices of crude oil has forced domestic airlines players to cut the number of flights and fleet usage, but US aircraft major Boeing is expecting export of more aircrafts to India in the coming years.

Boeing has estimated in its 20-year current market outlook (CMO) that India will need 1,001 new commercial planes worth $105 billion which is 10 per cent higher than the estimate of previous year. It has estimated 911 planes worth $86 billion in last year’s CMO.

Boeing’s senior VP (sales) Dinesh Keskar said that their estimates are based on growth story of India which is estimated an average of 6.7%. The growth rate is only behind China which has highest growth rate in the world. The company has given the projections for next two decades. He said that India would have to replace many planes which can increase the requirement of planes. The higher growth will add the need for including more the below 200-seater single aisle planes like Boeing 737 or A-320 family.

He forecasted that oil crisis will remain as it is for some time and it will adversely affect the airline industry. The US major expects the current problems to be sorted out in the next 12 to 18 months. The oil prices are not expected to rise above $150 per barrel mark. The low frequency of average trips by Indians can affect the growth of aviation sector.  

Air India could get the first plane in last quarter of next year due to the delayed Boeing 787-Dreamliner program. Jet Airways is thinking to change the version of 787 and Boeing will compensate the delay as per agreement with Indian firms. Air India, Jet Airways, Spice Jet and the Indian Air Force have given order of 68, 63, 30 and 3 aircrafts respectively.