Boeing forecasts India to order 856 planes worth $72 billion by 2026.
Boeing plans to double its long-term forecast for sales in India to 856 planes worth $72 billion by 2026.
Last year, the company had estimated that India would purchase 470 airplanes worth $35 billion by 2025. Airbus Industries last year predicted that Indian carriers would buy 800-1,000 planes through 2025.
Boeing has confirmed orders valued at around $19 billion for 106 aircraft of various configuration, including smaller and large wide-bodied planes, to be executed by 2011.
The Boeing Company will invest $280 million in India for setting up an airplane maintenance facility and a pilot training center.
In its India 2006 Market Outlook, Boeing said it expected the Indian market to generate demand for 676 single-aisle and 120 twin-aisle airplanes. Last year, Boeing received orders worth $15 billion from Indian carriers, including an order for 68 airplanes worth $11.4 billion from the state-run Air-India, the largest order in the country’s civil aviation history. (story at Business Standard)