The Airbus Global Market Forecast 2023 has unveiled insights into the anticipated growth of the aviation fleet in Latin America and the Caribbean, showcasing a significant surge in aircraft numbers by 2042.
By 2042, the aviation fleet serving Latin America and the Caribbean is forecasted to increase to 2,630 aircraft, nearly doubling from the 1,440 aircraft recorded in early 2020. This remarkable expansion underscores the region’s burgeoning aviation sector and its increasing importance on the global stage.
The growth of the aviation sector in Latin America and the Caribbean is intricately linked to the region’s economic development. As economic indicators forecast robust growth, including an average annual real GDP growth rate of 2.5%, the demand for air travel is expected to surge, further driving the need for an expanded fleet to cater to burgeoning passenger numbers.
Chile emerges as a key player in this fleet expansion, with its projected GDP nearly doubling by 2042. As the country’s economy flourishes, so too does its demand for air travel, necessitating a doubling of the aircraft fleet serving Chile over the next two decades.
Domestic air travel is anticipated to be a primary driver of fleet expansion, with an annual growth rate of 3.8% expected. Single-aisle aircraft are poised to dominate this segment, comprising over 90% of the total fleet as they cater to the increasing demand for domestic connectivity within the region.
Source: Airbus