Air travel in Latin America to be boosted by a strong economy
- Latin America's dynamic economy is expected to create a tripling of the region's air traffic during the next 20 years, driving the demand through 2030 for over 2,000 new aircraft with seating capacities of more than 100 passengers - according to the Airbus Global Market Forecast.
This is anticipated to create the requirement for 41 very large aircraft in the category of Airbus’ A380 (which is performing a Latin American demonstration tour this month), along with 1,653 single-aisle jetliners (for which Airbus offers its A320 Family), and 334 twin-aisle aircraft (a category covered by the A330 and A350 in Airbus’ product line).
At a time when the global economy is seeking stabilization, Latin America’s gross domestic product (GDP) is growing faster than the world at an average annual rate of 5 per cent, while the region’s middle-class is expected to surge 75 per cent in the coming two decades. Latin American airline traffic will follow suit, growing more than 6 per cent annually in the next 20 years – the second highest growth rate in the world after the Middle East and before Asia/Pacific.
Global Commercial Aircraft Gas Turbine Engine Market 2013-2023
Overall, the region’s traffic is expected to triple in the next two decades, with Latin America’s intraregional and domestic traffic predicted to rise 6.6 per cent in the coming 10 years. For the Latin American long-haul markets, Europe and North America will remain the most important destinations.
These trends follow a strong growth in Latin America’s aviation sector during the past five years. In addition, the region is setting global standards by operating some of the youngest aircraft in the world on average, and advocating the use of aviation bio-fuels that are both commercially viable and environmentally sustainable.
Source : Airbus, an EADS N.V. company (Paris: EAD.PA)