Brazil's top aircraft maker Embraer on Wednesday said it saw Asia-Pacific air travel providing jet makers with a $70 billion growth opportunity over 20 years.
Embraer, the world's third largest commercial aircraft manufacturer behind Boeing and Airbus, said it foresees delivery of 1,500 70-to 130-seat commercial jets to the region, including China.
That represents 20 percent of global demand for the period for that segment of the jets market, Embraer said in a statement issued on the sidelines of the Singapore Airshow.
"Air traffic in the Asia-Pacific region is above all made up of secondary markets with demand of low and average density for up to 300 passengers a day in both directions," said Paulo Cesar Silva, president of Embraer's Commercial Aviation division.
"Some 60 percent of these markets are not served non-stop," said Silva, adding half also did not allow for same-day return flights.
"Embraer's E-Jets allow for development of a better traffic feeding system and a better connection to the flight network," he added.
Embraer said some 60 percent of the projected deliveries would serve to support growth of air services in the region and be worth an estimated $70 billion to manufacturers.
The remainder would replace old aircraft being progressively withdrawn from service.
Embraer sees demand for air travel in the region rising an annual six percent through 2032.
"The region is going to become the world's largest market with 34 percent of passengers as measured by kilometer transported," the company based at Sao Jose dos Campos just outside Sao Paulo indicated.
The company's statement came two days after Boeing said the Asia-Pacific region will require almost 13,000 new planes worth $1.9 trillion over the next 20 years as booming wealth fuels demand for air travel.
Embraer further revealed it holds more than an 80 percent stake in the Asia-Pacific market as a whole.
In 2013, the company delivered 209 commercial and business jets and had an order book comprising $18.2 billion of agreed deals at year end.