Airbus raises its estimate of 20-year aviation market

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European aircraft manufacturer Airbus issued a slight upward revision Monday to its 20-year forecast for the civil aviation market, which it said should amount to 3.2 trillion dollars by 2029 thanks to activity in Asia.

Airlines are by then projected to have taken delivery of nearly 26,000 new cargo and passenger planes with more than 100 seats.

Airbus last year forecast deliveries of 25,000 planes for a total of 3.1 trillion dollars (2.3 trillion euros) between 2009 and 2028.

The company said demand would be driven by the need for more fuel-efficient aircraft as well as by growth in emerging markets, notably in Asia.

Airbus commercial director John Leahy noted at a press conference that China and India both have expanding middle classes.

Airbus' US rival Boeing has forecast deliveries of 30,900 planes worth 3.590 trillion dollars between now and 2029.

© 2010 AFP

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