India's Akasa Air Makes Historic Aircraft Order at WINGS India 2024, Securing 150 Boeing 737 MAX Jets for Expansion

Vantage Market Research

Jul 11, 2024

Akasa Air, India's rapidly growing airline, made a significant announcement at the prestigious WINGS India 2024, Asia's largest civil aviation event in Hyderabad. In an effort to strengthen its fleet and increase both its domestic and international operations through 2032, the airline announced that it has placed a definite order for 150 fuel-efficient Boeing 737 MAX aircraft, which include 737 MAX 10 and 737 MAX 8-200 models. This historic announcement, the first in the history of India's airshows, confirms Akasa Air's popularity as the only Indian airline to order over 200 aircraft in just 17 months after it started out flying, demonstrating each Boeing's faith in the airline's future increase and its sturdy financial function.

In line with its commitment to sustainability, Akasa Air's procurement of the fuel-efficient Boeing 737 MAX family underscores its dedication to reducing carbon emissions and enhancing environmental stewardship. Compared to its predecessors, the 737 MAX aircraft have a 20% lower fuel consumption and carbon emissions due to its increased range and fuel economy. In addition, the aircraft operate at a 50% reduced noise stage and offer passengers improved comfort and amenities, including USB connections for charging electronic devices. Akasa Air's 737 MAX fleet, which is uniform and prioritizes passenger happiness and operational efficiency, is properly-positioned to optimize airline operations and guarantee passengers a clean and dependable travel experience.

This latest aircraft order builds upon Akasa Air's previous procurement of 72 Boeing 737 MAX aircraft in 2021, followed by an additional order of 4 aircraft in June 2023, bringing the airline's total order book to an impressive 226 aircraft. With 204 aircraft scheduled for delivery over the next eight years, Akasa Air—which currently has a fleet of 22 aircraft—expects to further establish itself as a major participant in the commercial aviation industry. The announcement serves as a reminder of Akasa Air's dedication to sustainability, innovation, and providing unmatched customer service quality as it continues to steer the aviation sector toward revolutionary growth and success.

Market analysts at Vantage Market Research see significant potential for the commercial aviation market. The commercial aviation market is driven by the increasing global demand for air travel, fueled by factors such as economic expansion, urbanization, and rising disposable incomes. Passenger flight demand rises when economies expand because more people can afford to fly for work, pleasure, and other reasons. For instance, according to the UNWTO, tourism stands as a formidable economic force, contributing a significant 10% to the world's GDP, thereby solidifying its position as one of the primary revenue streams in the modern era. With a notable 57% of cross-border travelers opting for air travel, commercial aviation has experienced a remarkable surge, witnessing a doubling in the number of passengers over the past 15 years. The sector is poised to witness a 4.3% growth rate, reaching a staggering USD 215.3 Billion by 2032.

Commercial Aviation Market Size, Share & Trends Analysis Report by Size (Narrow Body, Wide Body, Regional & Business Jet, Freighter) by Application (Passenger, Cargo) by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2018 - 2023) & Forecast (2024 - 2032)