New Delhi: European aircraft major Airbus Monday forecast a "strong" demand for 27,800 aircraft by 2030 with about 34 percent of it emanating from the Asia-Pacific region where India and China would have the fastest growth rates in air traffic.
The combined value of the over 26,900 passenger aircraft above 100 seats and more than 900 new freighters would be USD 3.5 trillion, its Global Market Forecast said.
"By 2030 some 27,800 new aircraft will be required to satisfy future robust market demand," Airbus said, adding that "in the midst of troubled financial markets, Airbus foresees strong ongoing demand for commercial aircraft."
In terms of passenger traffic on domestic markets, India with 9.8 percent growth and China with 7.2 percent would have the fastest growth rates over the next 20 years, the aircraft manufacturer said.
"Geographically, over the next 20 years, Asia-Pacific will account for approximately 34 percent of demand, followed by Europe (22 percent) and North America (22 percent).
"By share of passenger traffic, Asia-Pacific will be the biggest market with 33 percent, followed by Europe (23 percent) and North America (20 percent)," the forecast said.
Noting that the demand forecast for Very Large Aircraft (VLA) with over 400-passenger capacity like superjumbo A380, has risen significantly, it said, "Some 45 percent of the world's VLAs will be delivered to Asia, 19 percent to Europe and 23 percent to the Middle East."
In the single-aisle aircraft segment, nearly 19,200 aircraft worth about USD 1,400 billion would be delivered over the next 20 years, it added.