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SOURCE: LIVE MINT

Recent orders from India, which is the fastest growing aviation market in the world after US and China, according to jet manufacturers Airbus SE and Boeing Co, puts the country ahead of China in the narrow-body aircraft order book.

India, which has the third-largest aircraft order book (including wide-body and narrow-body aircraft) after the US and China, now has more narrow-body orders than China, aviation consultants CAPA India said in a report on Wednesday.

“The India number still includes the (now defunct) Air Costa order because officially it is still on Embraer’s books,” CAPA India said in a report that compared the fleet of Indian airlines with that of others around the world.

CAPA expects another 120 aircraft orders in the next few weeks, including 60 narrow-body and 60 wide-body planes, including options. India could place orders for another 50-60 wide-body, as well as a large narrow-body order in the next one or two years, it said.

Airbus SE, which has more than 300 aircraft in operation in India under various airlines, has 530 aircraft in its India order book, it said in its 20-year India Market Forecast at aviation event Wings India 2018 in Hyderabad in March.

India, said Airbus, will need as many as 1,750 new passenger and cargo aircraft over the next two decades to meet the exponential rise in both passenger and cargo traffic.

Boeing Co, had in July 2017 statement said that Indian airlines to order up to 2,100 new aircraft worth $290 billion over the next 20 years, calling it the highest-ever forecast for Asia’s third-largest economy.

“By 2036, Indians will each make four times as many flights as today,” Airbus’ 20-year market forecast said, adding that traffic serving the Indian market is forecast to grow 8.1% per year over the next 20 years, almost twice as fast as the world average of 4.4%.

Mumbai-based Jet Airways had placed the order for 225 Boeing 737 MAX narrow-body airplanes–in three separate batches since 2015–which will be inducted over a 10-year period starting 2018.

SpiceJet had In January 2017 placed an order for 205 Boeing aircraft valued at $22 billion at list price. With the earlier order for 55 planes and 100 additional 737-8 MAX aircraft, the airline firmed up order for 155 planes, besides purchase rights for 50 B737-8 MAX and other wide-body aircraft.

On Wednesday, Vistara said that it has agreed to place $3.1 billion-worth firm orders with Airbus SE and Boeing Co. for 19 aircraft, including 13 narrow-body Airbus aircraft.

Besides these, largest domestic airline IndiGo and GoAir are currently taking deliveries of A320 Neo aircraft it had placed few years ago.