Latin America’s fleet will triple in size by 2035 as Boeing predicts the region will need 3,050 new aircraft worth about $350 billion.
Boeing forecasts the region will require 2,500 new single aisle aircraft to cater for regional growth and low-cost carriers. The manufacturer predicts 340 new aircraft will also be needed as the region’s carriers increase long-haul services. It says introduction of aircraft such as the Boeing 787 Dreamliner and low-cost economies will unlock growth in the region.
Boeing Latin America president, Donna Hrinak says: “Over the long term, Latin American economies will grow faster than the rest of the world. This growth will create increased passenger traffic in the region and drive Latin American airlines to expand and compete for business that has traditionally been dominated by foreign operators.”
It says the average aircraft age has fallen from 15 years old in 2005 to less than 10 and that 60 per cent of the current fleet will be replaced over the next two decades.