Bombardier Inc. sees a pickup in business-jet demand in its latest long-term forecast, thanks to a return to economic growth in emerging-market countries.

The Montreal-based plane and train maker’s private-jet division predicts up to 8,300 new business jet deliveries, representing a total value of about US$250-billion, between 2016 and 2025, in the segments in which it competes.

The company said in a news release Tuesday that “significant growth is expected in the long term, with larger aircraft continuing to dominate the market.

“As growth eventually returns in emerging regions, Bombardier is confident the business jet market will pick up as the popularity of private aviation continues to increase every year.”

Demand for business jets has fallen over the past several years amid sluggish or patchy economic growth around the world.

Corporate jets have traditionally served as a cash cow for Bombardier; sales of its Learjet, Challenger and Global families of business jets helped finance a big chunk of the company’s costly C Series single-aisle commercial jet.

But Bombardier had to freeze development of its new Learjet 85 and delay two longer-range versions of its larger Global planes after experiencing a cash crunch related in part to problems with the C Series.

The company’s latest forecast comes one day after it confirmed that fractional jet-ownership company Flexjet LLC is the previously undisclosed customer for 20 “super-midsized” Challenger 350 business jets.

The order – which is in addition to a 2013 order for 20 Challenger 350s – was announced on April 1 and is valued at about $534-million based on 2016 list prices for standard-equipped aircraft.

“Officially doubling our order will enable us to meet the increase in demand we are seeing from our Owners and provide a solid platform for future growth,” Flexjet chief executive officer Michael Silvestro said.

In its forecast, Bombardier Business Aircraft said North America is expected to account for the greatest number of new deliveries in the 2016-2025 period, with 3,930 planes, followed by Europe with 1,530 units.