According to the latest Airbus Global Market Forecast (GMF), Latin America will need 2,540 new passenger and freighter aircraft between 2015 and 2034 to meet long term growth in the region. This demand includes 1,990 single-aisle and 550 wide-body aircraft worth an estimated US$330 billion.
This demand will mean that the passenger and freighter fleet operated by the region's airlines will more than double to nearly 3,000 aircraft in the next 20 years. Today, 53 per cent of Latin America’s in-service fleet are Airbus aircraft. This includes the Americas’ first A350 XWB, delivered to Latam Airlines Group in January and operated by Tam.
Latin America’s traffic will grow at an average of 4.7 per cent annually in the next 20 years, above the world average of 4.6 per cent. Driving this growth are airlines domiciled in the region growing at 5.0 per cent annually, placing them among the world’s top three fastest-growing group of airlines.
The region’s urbanisation is a factor propelling this growth, as Latin America is one of the most urbanised in the world, second only to North America, with some 80 per cent of its population living in cities.
A consistent economic growth will also prompt traffic growth in the region. According to the GMF, in the next 20 years, Latin America’s annual GDP is forecast to grow at a rate of 3.6 per cent, above the world’s 3.2 per cent.
Furthermore, Latin American passengers will play a part in fuelling traffic growth, taking on average more than twice as many flights by 2034 as they do now.
According to the latest Airbus Global Market Forecast (GMF), Latin America will need 2,540 new passenger and freighter aircraft between 2015 and 2034 to meet long term growth in the region. This demand includes 1,990 single-aisle and 550 wide-body aircraft worth an estimated US$330 billion.
This demand will mean that the passenger and freighter fleet operated by the region's airlines will more than double to nearly 3,000 aircraft in the next 20 years. Today, 53 per cent of Latin America’s in-service fleet are Airbus aircraft. This includes the Americas’ first A350 XWB, delivered to Latam Airlines Group in January and operated by Tam.
Latin America’s traffic will grow at an average of 4.7 per cent annually in the next 20 years, above the world average of 4.6 per cent. Driving this growth are airlines domiciled in the region growing at 5.0 per cent annually, placing them among the world’s top three fastest-growing group of airlines.
The region’s urbanisation is a factor propelling this growth, as Latin America is one of the most urbanised in the world, second only to North America, with some 80 per cent of its population living in cities.
A consistent economic growth will also prompt traffic growth in the region. According to the GMF, in the next 20 years, Latin America’s annual GDP is forecast to grow at a rate of 3.6 per cent, above the world’s 3.2 per cent.
Furthermore, Latin American passengers will play a part in fuelling traffic growth, taking on average more than twice as many flights by 2034 as they do now.
