With rising passenger traffic, Indian carriers will require 1,150 aircraft by 2030 for as much as $130 billion, the world's largest manufacturer of commercial aircraft, Boeing Co, said on Tuesday.
"The potential for future growth of air travel, both domestically and internationally, is among the greatest in the world," said Dinesh Keskar, president, Boeing India, releasing the forecast for the Indian aviation market Tuesday.
The aerospace giant's forecast was based on factors such as economic growth of the country, increase in load factor and rising profitability of carriers.
"We believe there will be a record 50 million passengers this year if the trend continues and due to rising GDP (gross domestic product) and disposable incomes, availability of airports and Terminals like T3," Keskar said.
Indian carriers flew a record 44 million passengers last year which, the report said, would continue in the coming years.
Keskar added that he saw the fastest recovery and growth in Indian market with the recent performance of Jet Airways which registered 35 percent in passenger growth, load factors and yields.
"We went through the deepest recession in the history of aviation but now India’s recovery is one of the fastest," he added.
The aircraft manufacturer also said its next generation airliner 787 Dreamliner would be delivered to Air India by the second quarter of 2011.
"Air India would also be entitled for compensation for delays in the delivery of the aircraft."