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UPDATE 1-Airbus predicts $5.3 trillion jet demand, trims traffic outlook

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TOULOUSE, France, June 9 (Reuters) - Airbus raised its 20-year forecast for aircraft demand on Friday to 34,170 jetliners and 730 freighters worth $5.3 trillion while trimming its traffic growth outlook.

The world's second largest planemaker after Boeing also forecast on Friday strong demand for repairs, training and upgrade work as the world's fleet tops 40,000 jets by 2036.

But in online presentations ahead of a media briefing it trimmed its rolling 20-year forecast for air traffic growth to 4.4 percent a year, from 4.5 percent, as it took a more cautious view on mature markets such as North America.

Airbus raised its 20-year forecast for single-aisle and wide-body twin-engined jets to 24,807 and 8,686 units respectively, but cut its forecast for very large planes like the A380, whose output has fallen due to weak demand.

The total forecast for 34,899 passenger and freight aircraft was up from 33,070 aircraft predicted a year ago as a further year of strong deliveries was built into forecasts.

Airbus programmes chief Didier Evrard listed several "challenges" for 2017 in the presentation, including raising total deliveries to more than 700 at the same time as introducing new variants.

Chief Executive Tom Enders reaffirmed the same delivery target in separate comments to journalists.

Airbus has given both formal and informal targets for 2017, with its finance director predicting "over 720 deliveries" alongside the group's first-quarter results. (Editing by Leigh Thomas and Alexander Smith)