(Bloomberg) -- The coronavirus pandemic that’s stunted aircraft sales represents only a temporary setback, Airbus SE said, with replacements planes tied to reducing carbon emissions driving demand over the next two decades.

Airlines, leasing firms and cargo carriers will purchase more than 39,000 new passenger and freighter aircraft by 2040, the European planemaker said Saturday, unveiling its first long-term market outlook in two years ahead of the Dubai Airshow.

The numbers are little changed from the 39,200 jets Airbus forecast for 2019-2038, when the European planemaker last issued the forecast. Still, the assessment suggests manufacturers lost two years of growth with Covid-19, given the out-years in the long-range outlook generally contain higher figures than the ones they replace.

Airbus and its U.S. rival Boeing Co. will rely on accelerated retirement of older, less fuel-efficient aircraft to stoke uptake as airlines seek to improve their climate credentials. Airbus, based in Toulouse, France, paused its annual update of the figures last year, because the long-term impact of the pandemic wasn’t clear.

The European planemaker plans an ambitious production ramp-up for its A320-family of jets to as high as 75 planes per month by mid-decade.

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