Emerging markets and low-cost carriers are driving a rebound in commercial aviation -- where opportunities now outweigh the risks as economies recover, the head of the world's top engine firm said.

In a key sign of recovery, the recently battered industry is seeing the first signs of return to service of planes mothballed during the financial crisis, Eric Bachelet, president of CFM International told journalists ahead of the Farnborough Airshow.

CFM, co-owned by General Electric and France's Safran , is the world's largest producer of civil jet engines.

We are seeing very encouraging short-term signals for our industry, Bachelet said.

Emerging markets and low-cost airlines are the main forces behind the recovery, with average annual traffic growth rates of some 6 percent, Bachelet said.