(Reuters) -Canadian business jet manufacturer Bombardier reported higher first-quarter revenue on Thursday, owing to increased aircraft deliveries and growth in aftermarket services.

Bombardier President and CEO Eric Martel said he sees more opportunities than dangers amid the economic uncertainty kicked off by U.S. President Donald Trump's trade war with Canada and other nations.

The Montreal-based bizjet maker reported a 19% year-over-year rise in first-quarter revenue to $1.52 billion.

This jump was driven in part by the delivery of 23 aircraft, three more than in the same quarter last year, the company said.

Bombardier now expects to deliver more than 150 business jets this year, compared to 146 in 2024.

The company released bullish projections for its 2025 performance. Due to the economic and political turmoil, it had held off on issuing a forecast when it reported fourth-quarter results in February.

It now forecasts revenue exceeding $9.25 billion and between $500 and $800 million in free cash flow, versus $8.67 billion in revenue and $232 million in free cash flow last year.

For the quarter ended March 31, adjusted profit was $68 million, up from $44 million during the first quarter last year.

"As the world navigates through economic uncertainty, Bombardier has been diligent in its planning, developing multiple scenarios over the past few months," Martel said in a statement. 

"Our targets reflect a disciplined approach to the economic environment, while positioning the company for success," he said. 

The company said it sees opportunities for growth in defense and services. In February, it announced plans to open a new paint facility near London in 2026. It also plans to start construction on a new aftermarket services facility in Abu Dhabi, United Arab Emirates, later this year.