The US and Canada will require 6,315 new aircraft worth $648bn between 2011 and 2030, according to Airbus’ Global Market Forecast (GMF).

The 6,315 new aircraft will comprise 5,901 new passenger aircraft and 414 new freighter planes.

Despite less dramatic growth compared to emerging nations such as China and India, the US and Canada have the highest percentage of existing aircraft that will need to be replaced in the coming decades.

A total of 41% of the aircraft currently in service in North America will need to be replaced over the next 20 years.

Airbus estimates that the market for passenger aircraft in North America is expected to grow by 66% over the next 20 years.