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Airbus ups sector forecast for global aircraft output

LONDON -- European planemaker Airbus raised on Tuesday its long-term forecast for global aircraft production, citing strong demand for domestic passenger traffic in Asia, despite the unclear economic outlook.

Airbus, a division of European aerospace giant EADS, predicted in a key report that about 28,200 passenger and cargo aircraft would be sold for a total of almost US$4.0 trillion (3.2 trillion euros) between 2012 and 2031.

The group, unveiling its latest global market forecast in London, added that most of those planes — some 27,350 — will be passenger aircraft valued at US$3.7 trillion.

Airbus also predicted that the world's passenger fleet will more than double to over 32,550 planes by 2031.

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