Boeing, the Seattle-based plane-maker, has raised its forecast for India's commercial aircraft market by more than 11%, saying the country will require 1,450 new planes worth a total of $175 billion over the next two decades.
"Boeing projects India's commercial aviation fleet will
grow more than 4.5 times in size over the next 20 years," said Dinesh Keskar, senior vice-president, Boeing.
"India is projected to have the highest passenger traffic growth in the world."
The forecast for plane sales was 11.5% higher than the projections of 1,320 aircraft worth $150 billion that Boeing projected last year for India's civil aviation market.
Meanwhile, European aircraft manufacturer Airbus said in its Global Market Forecast that by 2031, four of the world's biggest traffic flows will be domestic - US, China, Intra-Western Europe and India - and these account for a third of world traffic.
In value terms, it said, the single biggest market is China followed by the US, UAE and India.
Boeing's Keskar said three 787 Dreamliners were ready for delivery to Air India and there was no hold-up at Boeing's end.
"We are all ready for our perspective," he said.
"Over 60 million passengers will fly within India this year," he said.
"When you look at the market, despite some of the challenges, India will continue to have one of the strongest, most vibrant aviation markets in the world."
Globally, Boeing projects a $4.5 trillion market for 34,000 airplanes over the next 20 years, driven by an increase in deliveries from India, China and other emerging markets.