Air carriers in Australia, New Zealand and the Pacific Islands region will require 736 new passenger and freighter aircraft (above 100 seats) between 2011 and 2030 worth up to $98bn, according to Airbus’s latest global market forecast.

The 736 new passenger and freighter aircraft will include 468 single aisles, 211 twin aisles, and 57 very large aircraft.

Of these, 731 will be passenger aircraft, which includes 349 for replacing older models with more fuel efficient ones, and 380 for expanding fleet size.

As per the Airbus forecast, low-cost carriers’ share of traffic between the region and Asia is expected to increase to 35% by 2030.

Globally in the next 20 years, Asia Pacific, including China and India, will be at the centre of the world’s strongest demand for aircraft (34%) and by 2030 will have the largest share of traffic (33%).