Boeing Company on Monday said the Indian civil aviation sector would require 856 new commercial jet airplanes worth over $72 billion over the next 20 years.
"Boeing forecasts a long term requirement for increased passenger traffic in which airlines significantly add frequencies with smaller aircraft to meet demands," Boeing Commercial Airplanes Senior Vice President Sales (South and Southeast Asia) Dinesh Keskar said.
"It also forecasts a considerable increase in the air freight market that will need to support the country's exports, which are growing at an estimated 5-6 per cent a year for the next 20 years," he added.
The strong forecast is supported in part by a robust economic growth, an increasing demand for point to point domestic and international air travel and the growth of the India based cargo market, the CMO said.