Airliners in the Middle East will need 1,418 passenger planes valued at $243 billion between 2009 and 2028, a report by Airbus’s Global Market Forecast said on Monday.

The region’s emerging economies, the growth of budget-carriers and the expansion of cities in commercial hubs, in addition to the region’s already healthy traffic growth, will drive demand for more aircraft, the study said.

“The Middle East market encompasses all aircraft segments and is a barometer for the rest of the world. The recovery begins here. As it gains pace, Airbus is ready to meet demand with the world’s most eco-efficient and modern aircraft,” said John Leahy, Airbus’ chief operating officer Customers.