Boeing forecast Tuesday that North American airlines will take delivery of about 7,530 new commercial aircraft worth $ 760 billion over the next 20 years. Around 73% of new deliveries will be for fuel-efficient, single-aisle jetliners, it said.

The North American fleet will grow from 6,610 airplanes to about 9,330 airplanes by 2030, taking retirements into account, Boeing forecast.

“The North American commercial aviation market improved for a second consecutive year with passenger traffic growth at a modest 3%,” Boeing Commercial Airplanes VP-Marketing Randy Tinsethsaid. “The region’s airline industry is poised for long-term, moderate growth. Airlines are expected to continue focusing on capacity discipline and improving financial performance.”

Boeing said a majority of increased growth in the single-aisle category is related to traffic traveling to and from economically dynamic regions in Central and South America. The manufacturer’s single-aisle aircraft, such as the 737NG and 737 MAX, offer “significant advantages in improved capabilities, fuel efficiency and maintenance costs, as well as enhanced environmental performance,” it said.

Long-haul international traffic will continue to grow at an average annual rate of approximately 4.5%, said Boeing, noting this growth is expected to result in demand for an additional 1,180 new fuel-efficient, twin-aisle airplanes such as the 787.

According to the report, “large aircraft (747-size and larger) will not see significant demand in North America, with only about 50 airplanes, or 1% of the total investment.”