Bangladesh, Sept. 21 -- The European planemaker said traffic volumes in the region will more than double over the forecast period, with Asia-Pacific projected to require 19,120 new passenger aircraft, representing 45% of the total global demand for 42,060 new aircraft.

Of the 19,120 aircraft needed in the region, one-third will go toward fleet replacement, while the remainder will support growth.

Airbus attributed the expansion to strong economic fundamentals, rapid urbanization, and a growing middle-income population, which is projected to reach three billion people across Asia-Pacific by 2045.

By aircraft size, the region is expected to account for nearly half of global widebody deliveries, with demand for 3,420 new aircraft. Airbus...