Cargo fleet in India will grow from 15 to 80 over 20 yrs: Boeing
Backed by e-commerce and pharma exports, demand for dedicated and wide body freighter aircrafts to increase among airlines looking to balance revenue sheet through cargo
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Hyderabad: American airplane manufacturer, Boeing is looking keenly at the cargo division as an investment opportunity in India’s civil aviation market. The company expects the India cargo fleet to go up to 80 airplanes over the next 20 years as against the 15 freighter aircraft now.
Boeing’s interest in the growth of India’s cargo fleet comes at a time when news reported late on Thursday that Boeing 747-8 cargo plane with Atlas Air made an emergency landing at Miami International Airport following an engine malfunction. This recent incident adds on to Boeing’s existing challenges.
Ashwin Naidu, MD-Commercial Marketing (Indian Subcontinent), Boeing, said: “Growth market for India is dedicated freighter aircraft. India currently has 14 to 15 dedicated freighter aircraft which is understated relative to the potential. Compared to a GDP of $4 trillion today that number is small in India as against in markets like the US or China.”
He further went on to say that through pandemic airlines have realised that cargo is not just an afterthought but a strategic advantage resulting in better diversification in revenue. Airlines are not being completely reliant on passenger but are also balancing revenue sheet through cargo too. “We see five times growth potential over the next 15 to 20 years. We see the number grow from 15 to 80 airplanes with big opportunity for traders looking to move goods within India and through trade partners in other countries.”
He informed that besides a potential for more dedicated freighter aircrafts, e-commerce as a driver alongside India’s leadership in pharmaceutical exports will result in the demand for wide body freighter airplanes.
