Embraer predicts 6,400 new 70- to 130-seat commercial jets will be delivered worldwide by 2036, valued at $300 billion, according to the Brazilian manufacturer’s new 2017 Market Outlook report.

The overall number of projected deliveries shows a moderate uptick of 50 to-be-delivered jets from last year’s 20-year market forecast.

The company said 63% of the new deliveries will support market growth while the remaining 37% will replace aging aircraft that will be retiring by 2036.

By seating segments, Embraer predicts the 90 to 130+ seat segment will see the largest growth over the next 20 years, growing by 4,120 jets. Embraer foresees the 70 to 90-seat segment will grow by 2,280 jets by 2036.

By region, Embraer projects North America will take the largest share (32%) of the 70-130+ seat jet aircraft market, with 2,020 deliveries by 2036. Asia-Pacific will take the next-largest share (27%) with 1,710 deliveries, followed by Europe (18% share, with 1,150 deliveries), Latin America (11% share, with 690 deliveries), the Commonwealth of Independent States (CIS) with a 6% share and 390 deliveries, and Africa and the Middle East (each with a 3% share and 220 deliveries).

“While region-specific outlooks vary considerably, the underlying drivers to sustain the projected market demand for jets in the 70-130+ seat capacity category remain intact, from feeding complex bank structures at major hubs to pioneering new markets [that] complement narrowbody aircraft operation,” Embraer said.