European plane-maker Airbus is forecasting a faster-than-expected recovery in the aircraft industry. It says the world will need $3.2 trillion in new passenger and freighter aircraft over the next 20 years. That figure translates to nearly 26,000 planes.
The company cites growing demand for more eco-friendly planes, strong growth in new markets and the expansion of low-cost airlines in Asia.
The company released the figures Monday during a 2010-2029 market forecast issued in Colomiers, southern France. They are slightly less optimistic than the long-term predictions of Chicago-based rival Boeing Co.
Boeing says the global airline industry will need $3.6 trillion in new aircraft, or 30,900 new jets, between now and 2029.
