Boeing is simply positioning itself to take advantage of a post US world. The way things are going I can’t blame Boeing for betting against us.
I think India, Canada, Australia and New Zealand are all places to which US money and talent will flee once the burden of supporting our “countrymen” becomes to great to bear. I would not be surprised to see more companies expanding operations in these countries.
Boeing values India’s commercial aircraft market at $150 billion over 20 years
Boeing this week forecast demand in India for 1,320 new passenger aircraft valued at around $150 billion over the next 20 years, a dramatic increase over Indian market projections made by the manufacturer five years ago. In fact, Boeing’s 20-year market value for India has more than doubled since 2006.
“Robust growth with new economic prosperity amongst a massive Indian population, discretionary incomes, business progress and access to airports will increase airplane demand,” Boeing India President Dinesh Keskar said this week when presenting the company’s Indian market outlook. “In 2011, the [Indian] economy continues to do well. Indian air carriers are becoming profitable and we expect the GDP to maintain its upward trend in the long term. As a result, both the air travel and air cargo markets will grow.”
Boeing in 2006 forecasted that India’s airlines would order 856 passenger aircraft valued at $72 billion over 20 years.
The manufacturer this week noted that passenger traffic in India, which reached 53.6 million domestic travelers and 13.1 million international boardings in the most recent reporting year, is expected to grow 8.1% annually over the long term. “The economic and air traffic growth will in turn stimulate demand for a variety of aircraft types,” Keskar stated. “The need is great for new airplanes that can efficiently and profitably fly short- and long-haul routes. This demand is driven by growth in developing and emerging cities, demand from low-cost carriers and the need to replace an aging fleet.”
Boeing said the strongest demand will be for single-aisle aircraft. It predicted that Indian airlines “will grow by responding to passenger preference for more flight choices, lower fares and direct access to a wider range of destinations. Air carriers will focus on offering more flights using more efficient airplanes instead of significantly larger airplanes.”
The manufacturer last month forecast global demand for 33,500 new commercial aircraft worth $4 trillion through 2030 (ATW Daily News, June 17).