Airbus foresees need for many new planes

The international aircraft industry will recover faster than expected, European manufacturer Airbus said Monday, predicting a need for about $3.2 trillion in new passenger and freighter planes globally over the next 20 years.

The figure translates to nearly 26,000 aircraft, up slightly from an earlier forecast for 25,000. Strong growth in new markets and low-cost airlines in Asia will help propel demand. Though global air traffic historically doubles every 15 years, it is expected to do so in India and China in only six years, the company said.