Brazilian aircraft maker Embraer said Thursday it expects China will drive global demand for small commercial jets 4.9 percent higher over the next two decades.

The company said China's demand for 30- to 120-seat commercial jets will likely surge 7.5 percent between 2008 to 2027.

Demand for all of Latin America, the Middle East, the Asia-Pacific region, and Russia and surrounding countries is expected to increase 5.5 percent, while North America and Europe should grow around 4 percent.

Embraer forecast total demand for the period will reach 7,450 small commercial jets for a total market value of $235 billion. The prediction includes 3,150 planes for the first decade and 4,300 in the second.

In addition, the company forecast demand for 13,150 business jets over the next decade, suggesting a market value of $201 billion.

Growth of the emerging air taxi market could add an additional 3,500 to 4,400 small aircraft known as very light jets, the company said. Embraer is developing two models of such jets.

For 2008, Embraer said it expects to deliver between 195 and 200 traditional aircraft, along with 10 and 15 of its Phenom 100 very light jets. In 2009, the company plans to deliver the same number of traditional planes, but boost production of very light jets to 120 to 150 aircraft.

Embraer shares rose 32 cents to $48.13 on the New York Stock Exchange.