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Boeing Expects India to Order up to 2,100 Aircraft Over 20 Years

July 31, 2017, 7:24 AM UTC

Boeing (BA) said on Monday it expects Indian airlines to order up to 2,100 new aircraft worth $290 billion over the next 20 years, calling it the highest forecast ever for Asia’s third-largest economy.

India is one of the world’s fastest-growing aviation markets with domestic passenger traffic growing at more than 20 percent a year over the last few years.

The world’s biggest maker of jetliners could increase the projection next year depending on how India’s regional connectivity scheme pan out, said Dinesh Keskar, senior vice president, Asia Pacific and India sales at Boeing Commercial Airplanes.

Last year, India overhauled rules governing its aviation industry, liberalizing norms for domestic carriers to fly overseas and spreading the country’s air travel boom to smaller cities by capping airfares and opening new airports.