Boeing predicts India will need 2,210 new planes in next 20 years

Boeing (215.65, 2.76, 1.30%) cut its forecast for India's commercial aviation market on Tuesday, saying India will need 2,210 new planes over the next 20 years, down from a forecast of around 2,240 last year.

In its latest outlook for the Indian market, Boeing said single-aisle jets like the 737 Max will dominate, with 1,983 expected, or around 90% of total demand, while the remaining 227 will be wide-body aircraft. In March last year, Boeing had predicted that India would need more than 2,000 narrow-body aircraft and 240 wide-body aircraft in the next 20 years.

"More than 80 percent of new airplane deliveries to this market will be for growth and 20 percent will be for to replace older aircraft."

China remains a much larger market for Boeing. The company predicted in its China Aviation Market Outlook released in October last year that China would need 8,485 new aircraft over the next 20 years.