Aircraft manufacturer Airbus says the Latin America (LATAM) region’s aircraft fleet will double in the next 20 years.
In its Airbus Global Market Forecast it sees demand for 2,500 new aircraft from 2016-2035, including 2,570 new passenger and freighter aircraft (2,030 single-aisle and 540 widebody aircraft) worth an estimated $350 billion.
Speaking at the International Brazil Show, Airbus president of LATAM and Caribbean, Rafael Alonso, said the passenger and freighter fleet will surpass 3,000 in the next 20 years, more than double the fleet in-service today.
Alonso said: “There’s no doubt that solid long-term growth is in store for Latin America, and we see single-aisle aircraft leading the demand. We believe the A320neo Family, already flying with Latin America’s top carriers, remains perfectly suited to deliver on future growth and efficiency demands in the region, given its superior performance and comfort.”
“In the next 20 years Latin America will also be impacted by the rise of low-cost carriers in key markets such as Colombia, Chile, and Peru. This business model will impact market dynamics in the years to come, especially in domestic and intra-regional travel.
“Looking ahead, we also see a good opportunity for the region’s carriers to be more bullish on developing intra-regional routes, a space in which Latin America is less developed than other regions,” Alonso added.
Airbus said in Brazil, where the aviation industry contributes over $32 billion to the country’s GDP, fleets serving the country will require over 1,400 aircraft by 2035 to meet market demand.
The aircraft manufacturer says with over 1,000 aircraft sold and a backlog of nearly 450, almost 650 Airbus aircraft are in operation throughout LATAM and the Caribbean.