Bombardier Aerospace, a leading manufacturer of regional and business aircrafts in Canada, said in its newly released report that China, India and other developing regions are leading the market recovery and are expected to capture an increasingly important share of industry orders in the business and commercial aircraft markets in the next decade.

The report also says North America, Europe and China will be the three most active markets going forward and will generate the biggest revenues over the next 20 years.

The annual aircraft market forecast for the business and commercial aircraft markets said the commercial aircraft market is seeing the beginning of a recovery, although both business and commercial aircraft were affected by the recession in the past few years.

"Maintaining our focus on new product development, such as the Learjet 85 and CSeries aircraft, and successfully delivering products that meet the needs of our customers, such as the CRJ1000 NextGen aircraft, will help us emerge from the recession at the forefront of our industry," said Bombardier Aerospace Vice President Mairead Lavery.

According to the forecast, for the 20-year period from 2011 to 2030, Bombardier will deliver a total of 24,000 business jets in all segments, with 10,000 deliveries worth US$260 billion in the first 10 years, and 14,000 deliveries worth US$366 billion in 2020-2030.

Demand for 20- to 149-seat commercial aircraft is expected to result in 13,100 new aircraft deliveries in the next 20 years, says the report. This is an increase of 300 units compared to last year's forecast. The forecasted delivery demand is valued at approximately US$639 billion.

However, the market is still staggering subject to the rising cost and volatility oil prices, which creates uncertainty in the planning of many airlines.

Due to the combined influence of the political changes in some oil producing countries, and natural disasters such as the earthquake and tsunami in Japan, the global demand for air travel has slowed in the short term.