Singapore: Aircraft manufacturers see Asian runways paved in gold, and are forecasting a significant rise in demand for aircraft in the region over the next decade.

On the opening day of Asian Aerospace 2002, second only to the Paris air show in terms of aviation prestige, some of the biggest names in the aircraft industry declared intentions to raise their presence in the region.

"Key to our future success is to gain an even greater presence in important markets than we have now," Europe's aeronautical giant European Aeronautic Defence and Space Co (EADS) said in a statement.

"Asia is a top priority for EADS," one of EADS joint chief executives, Philippe Camus, said.

The European company already has a strong presence in the region through its 80 per cent stake in aircraft maker Airbus, which is giving its main rival, US-based Boeing, a run for its money in the region.

Rainer Hertrich, EADS' co-chief executive, said Asia was "recovering better than Europe" from the impact of the September 11 terror attacks.

Boeing's senior vice president for sales of commercial aircraft, Larry Dickenson, said the Asia-Pacific "will be one of the world's fastest growing markets over the next 20 years", with its share of world air travel forecast to increase to up to 19 per cent by 2020.

"That's a substantial increase. And it's an increase being driven by Asia-Pacific passengers who are travelling in greater and greater numbers for both leisure and business," he said.

Boeing has used the aerospace exhibition to announce the launch of its latest version of the 747, the 747XQLR (Quiet Long Range) aircraft which it said will fly longer distances and at lower noise levels than earlier models.

With the new aircraft, which should enter service in early 2004, Boeing "will help our customers keep pace with such rapid traffic growth and its challenges for a long time to come", Dickenson said.

The region is expected to become the biggest market for commercial planes in the next 20 years, with an estimated requirement for more than 5,220 jets valued at $ 537 billion, he said.