Airbus predicts fleet in Latin America to more than double by 2034

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 widebody like the A330, A3350 XWB and A380, worth an estimated US$330bn. This demand will mean that the passenger and freighter fleet operated by the regions airlines will more than double to nearly 3,000 aircraft in the next 20 years. Today, 53% of Latin America’s in-service fleet are Airbus aircraft operated by the region’s leading carriers. This includes the Americas’ first A350 XWB, delivered to LATAM Airlines Group in January, operated by TAM. Latin America’s traffic will grow at an average of 4.7% annually in the next 20 years, above the world average of 4.6%. Driving this growth are airlines domiciled in the region growing at 5.0% annually, placing them among the world’s top three fastest-growing group of airlines. The region’s urbanization is a factor propelling this growth, as Latin America is one of the most urbanized in the world second only to North America, with some 80% 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%, above the world’s 3.2%. Furthermore, Latin American passengers will play a part in fueling traffic growth, taking on average over twice as many flights by 2034 as they do now.