Between 2017 and 2036, Latin America and the Caribbean will need 2,677 new passenger and cargo aircraft to meet growing demand. This is what sets the latest Airbus Global Market Forecast (GMF). This demand of $ 352 billion corresponds to 2,084 single-aisle aircraft, in addition to 593 widebodies and jumbos. With this, the fleet will more than double in the region of 1,211 to 2,882 aircraft in 20 years.
Of these, 1,006 will be for replacement of aircraft of old generations, while 1,671 will be responsible for growth and another 205 will remain in service. Passenger traffic, in turn, is expected to grow 4.4% annually by 2036, both in Latin America and the Caribbean. Internal and intra-regional traffic in the region will grow even faster, at 4.8% per year. A key driver of this growth is the region’s middle class, which is expected to rise to half a billion people by 2036.
“We are optimistic about the long-term outlook for Latin America’s air transport sector, now that we are beginning to see clear signs of economic recovery throughout the region, as signaled by its GDP, which is expected to grow by three percent, above of the world average, “said Airbus Latin America and Caribbean President Rafael Alonso at the ALTA Airline Leaders Forum. “In addition, with the increase in long-haul traffic, we believe carriers can capture the share currently being lost to foreign carriers on routes to Europe, the Middle East and North America.”
By 2036, the number of aviation megacities worldwide will increase from 58 to 95, and the current regional ones in Bogota, Buenos Aires, Lima, Mexico City, Santiago and São Paulo will have the company of Cancun, Cidade do Panama and Rio de Janeiro. These nine will account for 150,000 long-haul passengers daily.
More than doubling in the commercial fleet over the next 20 years, 49,130 new pilots and 53,800 new maintenance engineers will be needed, providing a growth opportunity for Airbus’ regional customer service stations. With more than 1,000 aircraft sold and a backlog of 450, more than 650 Airbus are operating in Latin America and the Caribbean, representing a market share of 53%.
Source: Market & Events