Delivering its 20-year outlook, Airbus said air travel through 2032 will be fuelled by traffic to and from emerging markets such as Brazil, China and India.
To meet this challenge, Airbus and its rivals -- notably US giant Boeing -- will need to produce thousands more planes, the bulk of which will be single-aisle passenger carriers.
"As aviation becomes increasingly accessible in all parts of the world, future journeys will increasingly be made by air particularly to and from emerging markets," Airbus said in its Global Market Forecast, which it produces every year.
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"Air traffic will grow at 4.7 percent annually requiring over 29,220 new passenger and freighter aircraft valued at nearly US.
4 trillion (3.3 trillion euros)."
Airbus said almost all the new required planes, about 28,350, would be passenger aircraft valued at $4.1 trillion.
It added that by 2032, Asia-Pacific would lead the world in air traffic, overtaking Europe and North America.
"Today on average, a fifth