(Yicai Global) July 28 -- European plane maker Airbus predicted that by 2042, China will need more than 9,440 new passenger and cargo aircraft, accounting for 23 percent of the global demand.

Over the next 20 years, China will need about 8,020 single-aisle jets, such as those from the A220 and A320 family, and 1,420 wide-body ones, like the A330neo and A350, according to Airbus' latest edition of its Global Market Forecast released yesterday. Only 25 percent of these planes will replace old ones.

China's annual per capita flight rides will increase to 1.7 by 2042 from 0.5 in 2019, driven by the rising personal spending of the growing middle class, Airbus noted.

China's air traffic will likely grow 5.3 percent a year over the next 20 years, faster than the world's forecast average of 3.6 percent, Airbus said, adding that the demand for air traffic will continue to develop as it returns - or has returned in many regions - to pre-pandemic levels.

Airbus had 2,175 planes in service in China as of June 30, accounting for 54 percent of the country's total fleet. In April, it reached a deal with China Aviation Supplies covering the purchase of 160 Airbus commercial aircraft, 150 jets from the A320 Family and 10 A350-900. Air China, China Southern Airlines, and China Eastern Airlines, the country's three largest carriers, ordered 292 A320NEOs in July last year.

Airbus' rival Boeing has not announced any new orders for passenger planes from China since November 2017, when it signed a deal to sell 300 aircraft to CAS.

Editor: Futura Costaglione