Asia Tech Wire (July 15) -- Airbus released a new global market outlook on Monday, projecting a global aircraft fleet of 48,230 units by 2043, up from 24,240 at the start of this year.

According to the forecast, about 45% of new aircraft deliveries will serve to replace older, less fuel-efficient planes.

Airbus also expects the Chinese and Indian markets to be the main growth drivers for the aviation industry over the next 20 years, with the number of commercial aircraft expected to double globally during this period.