Latin America & Caribbean Fleet to Almost Double by 2044

Airbus has published a new edition of its Global Market Forecast (GMF) for Latin America. According to the projections, commercial aviation will experience significant expansion driven by strong demographic and economic trends. By 2044, the region will require a total of 2,660 new aircraft to meet growing demand and modernize its fleet. These new deliveries will be split almost evenly between replacements and growth, and they will serve regional and domestic routes.

Latin America's passenger traffic is driving the fleet expansion and is forecast to nearly double by 2044, with a total CAGR* of +3.7%. The highest demand will be within the Latin American & Caribbean markets, with domestic traffic peaking at a CAGR of +4.1% and intra-regional traffic at +3.2%. The region's overall growth rate of 4.0% is higher than that of mature markets such as the US and Europe

The high demand for new aircraft can be explained by several key socioeconomic trends that are projected to cause a surge in air travel consumption in Latin America over the next two decades. By 2044, Latin America is expected to become the second-largest region by share of urban population.

In addition, the middle class in Latin America is expected to grow significantly, reaching 500 million people by 2044, a trend supported by an anticipated regional GDP growth of 2.8% per year. As a combined  result of these socioeconomic factors, flights per capita are set to increase substantially in key markets. In Brazil, Chile or Argentina, for example, flights per capita will more than double. Continued growth in passenger traffic is expected across the board, supporting domestic and international connections for the region.

*CAGR: Compound Annual Growth Rate

For more information contact:
Damien Sternchuss
VP, Head of Airline Marketing Latin America & Caribbean
damien.sternchuss@airbus.com