Flying India 2024: Boeing Announces Global Aviation Trends, India’s Soaring Market, and Ambitious Expansion Strategies

Flying India 2024, which recently took place in Hyderabad, gave an opportunity for Boeing to discuss global aviation trends, India’s developing industry, and the company’s growth goals. During the occasion, Ryan Weir, Boeing’s Vice President of Commercial Sales and Marketing for India, offered valuable aviation industry insights.

Global demand for new aeroplanes is expected to reach 42,595 over the next two decades. Weir cited India as a notable market in Asia, having increased capacity beyond pre-pandemic levels. Notably, India boasts the world’s fastest-growing long-haul aircraft market. Weir emphasised the major significance of India’s increasing middle class, which is expected to treble by 2042, in fueling regional aviation expansion. It is estimated that India and South Asia would require 2,705 new aeroplanes by 2042.

Weir also discussed aspects of Boeing’s operations, such as the fact that some of the Air India order consists of older models originally built for other carriers. Leasing accounts for over half of the worldwide aircraft fleet, and this trend is anticipated to continue.

Weir noted that Sustainable Aviation Fuel (SAF) accounts for less than 1% of jet fuel demand in 2023. Despite the recent Boeing 737 Max-9 incident, Weir emphasised that aircraft deliveries will not be delayed and underlined Boeing’s $100 million investment in training 737 Max pilots in India by 2023.

Boeing has conducted additional quality checks for its 737 Max family, and Weir underlined that the company is not positioning itself to compete with the

Airbus A321 XLR in the single-aisle long-haul segment.

Ashwin Naidu, Managing Director of Commercial Marketing for Eurasia and the Indian Subcontinent, discussed the issues that Indian aviation faces, such as variable fuel prices, currency changes, low-yield infrastructure, greater taxes than global markets, and severe rivalry.

Naidu pointed out that a substantial amount of air passenger travel between India and North America passes through global aviation hubs like Dubai and Qatar. He viewed the rise of strong firms in the Indian aviation sector as beneficial to the economy. The increase in airfares in India was seen as positive for Indian airlines. Naidu also emphasised Boeing’s commitment to expanding pilot training facilities in India, indicating a continuous investment in the country’s aviation industry.

Looking ahead, Naidu envisions India’s cargo aircraft fleet expanding to 80 planes over the next two decades, a significant increase from the existing 15 freight planes.

Flying India 2024, touted as Asia’s largest civil aviation exhibition, opened with an inauguration by Union Minister for Civil Aviation Jyotiraditya Scindia, Minister of State for Civil Aviation Singh, as well as Telangana’s Minister for Highways, Buildings, and Cinematography, Komatireddy Venkat Reddy.There were also representatives from the Airports Authority of India (AAI) and the Federation of Indian Chambers of Commerce and Industry (FICCI). The event drew business professionals and aviation aficionados, with aircraft exploration and exciting aerial displays offered on an invitation basis during the business-oriented section.