India Set to Be World's Fastest Growing Aviation Market Over Next 20 Years - Boeing

New Delhi (Sputnik): Air passenger traffic in India has risen by around 20 percent in recent years, making it one of the fastest-growing civil aviation markets. However, growth took a hit this year with the collapse of Jet Airways and a slowing economy.

Presenting a bullish outlook on-demand from Indian airliners, Boeing announced on Wednesday that India would be the world's fastest-growing aviation market over the next 20 years.

Indian airliners will require 2,380 new aircraft, worth approximately $330 billion, over the next 20 years, Boeing Deputy Vice President of Commercial Marketing Darren Hulst said in New Delhi.

Hulst sought to boost confidence in the fate of the Boeing 737 MAX model, which has been grounded worldwide since fatal crashes in Indonesia and Ethiopia.

SpiceJet, which purchased 205 737 MAX jets, announced that it could buy around 100 aircraft from Airbus in a deal worth at least $10 billion.

IndiGo, the airline with the largest market share, announced an order for 300 Airbus A320neo aircraft last month. IndiGo already operates an all-A320 fleet.

According to Airbus, the new deal with IndiGo brings the airliner's "total number of A320neo Family aircraft orders to 730".