Airbus has foreseen that Africa and the Indian Ocean region will require about 1,101 new aircrafts valued at about 126 billion U.S. dollars by 2030.Air traffic in Africa increases at average rate of 5.7 percent above the world average rate of 4.8 percent and far outstrips more developed markets such as North America and Western Europe, according to Airbus "latest Global Market Forecast.” Alan Pardoe, Head of Marketing Communications, told journalists at Sheraton International Hotel in Addis Ababa, Ethiopia that air traffic doubled every 15 years.Long-haul traffic will grow twice as fast as the network, he said, adding in 20 year global demand of almost 27,900 new aircrafts valued at 3.5 trillion dollars. Airbus says the growth of air traffic in the African region is driven by tourism, an expanding middle class, increased urbanization, business relationships with developing nations, and further opportunities from market liberalization and low cost.Airbus foresees that Africa’s aircraft requirement will include 790 single aisle aircraft, 273 twin aisle, and 38 very large aircraft. "Air travel in Africa is predicted to increase by 5.7 percent per year and Airbus has the most innovative and co-efficient aircraft family available to satisfy the needs of airlines and the expectations now and in the years to come,” said Pardoe. Headquartered in Toulouse, France, Airbus is the world’s leading commercial aircraft manufacturer producing modern airliners from 100 seats to over 500.