25,000 new planes needed by 2029
Around 25,000 new passenger planes will be needed over the next 20 years, aircraft company Airbus has forecast.
These planes will have a value of around £1,880 billion, with 10,000 of the new planes replacing older and "less-green" aircraft.
The other 15,000 will be to accommodate passenger growth, said Airbus whose planes' wings are built in the UK.
Demand for ultra-large aircraft such as the Airbus A380 superjumbo is expected to account for 7% of the total number of new planes over the next 20 years.
Around 24% of the new aircraft will be twin-aisle planes, with 69% being single-aisle aircraft.
The world's passenger fleet amounts to more than 14,000 planes at the moment and this figure is expected to rise to 29,000 by 2029.
Airbus said the demand for new planes was being driven by replacement of aircraft for newer, more eco-efficient models in mature markets; dynamic growth in new emerging markets; low-cost carriers particularly in Asia; further market liberalisation and capacity growth on existing routes.
The company's forecast is 900 planes higher than its long-term prediction made at the end of 2009.
Airbus customer chief operating officer John Leahy said: "The recovery is stronger than predicted and reinforces both the resilience of the sector to downturns and that people want and need to fly."
Chris Emerson, Airbus's head of product strategy and market forecast, said: "Airlines in Asia Pacific including China and India will carry one third of the passenger traffic by 2029, making it the largest region, overtaking the USA (23%) and Europe (23%)."
- 1 Paris attacks: Do not call Charlie Hebdo killers 'terrorists', BBC says
- 2 Man who held up 'hire me' sign at Waterloo station returns a year later with 'I'm hiring' sign
- 3 UK weather: Snow to fall in the coming week with sub-zero temperatures to last until early February
- 4 Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
- 5 The enemy within: People who hear voices in their heads are being encouraged to talk back
Paris attacks: Do not call Charlie Hebdo killers 'terrorists', BBC says
Rowan Atkinson to sell £10 million McLaren 'supercar' he crashed into a tree and a lamppost
UK weather: Snow to fall in the coming week with sub-zero temperatures to last until early February
Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
Howard 'Mr Nice' Marks reveals he has inoperable cancer: 'I've had an incredible life'
Nigel Farage: NHS might have to be replaced by private health insurance
'We would evict Queen from Buckingham Palace and allocate her council house,' say Greens
French court convicts three over homophobic tweets, in case hailed as a 'significant victory' by LGBT rights campaigners
Greece elections: Syriza and EU on collision course after election win for left-wing party
George Galloway condemns 'racist, Islamophobic, hypocritical rag' Charlie Hebdo at freedom of speech rally
British Muslim school children suffering a backlash of abuse following Paris attacks
iJobs Money & Business
£30000 - £32000 per annum + benefits : Ashdown Group: A highly successful, int...
£18000 - £20000 per annum: Recruitment Genius: This rapidly expanding business...
£25 - 28k + Bonus: Guru Careers: An In-house / Internal Recruiter is needed to...
Negotiable: Recruitment Genius: A Tax Assistant is required to join a leading ...