In its most recent Global Market Forecast, European aircraft manufacturer Airbus is predicting a demand for passenger and freighter aircraft valued at US$2.8 trillion between now and 2026, with total production of 24,300 individual aircraft. This represents an increase of 16,000 units over the company's previous forecast two years ago. "Air transportation is definitely a growing industry contributing to economic development and generating wealth around the world," says John Leahy, Airbus' CEO/Customers. The company predicts that the greatest demand for passenger aircraft will be in the Asia-Pacific region, which will account for 31 percent of the total world demand, followed by North America with 27 percent and Europe with 24 percent. The company also speculates that several emerging economies such as Argentina, Brazil, South Africa, and Vietnam will grow increasingly important to the aircraft industry during the next 20 years.
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