The aviation industry in Latin America is poised for significant growth over the next two decades. According to the latest Airbus Global Market Forecast 2023-2042, passenger traffic in the region is set to double from 0.44 annual trips per capita in 2019 to 0.87 annual trips per capita in 2042.
Growth underpinned by a number of factors
Firstly, the middle class in Latin America is set to expand from 400 million to 490 million by 2042, representing 67% of the region’s total population.
The second factor is the development of low-cost carriers, which have made air travel more affordable, now accounting for 50% of total seat capacity on domestic flights. Brazil and Mexico are leading the way in terms of adoption of this model.
Finally, the boom in e-commerce has stimulated demand for air freight services. Origin and destination (O&D) freight traffic is expected to almost double by 2042.
Detailed forecasts
- Overall traffic is expected to grow by 3.5% a year over the next 20 years.
- The fleet in service in the region is expected to almost double from the current 1,440 aircraft to 2,630 by 2042.
- Airbus, as a major player in the industry, has already sold more than 1,150 aircraft in Latin America and the Caribbean, with more than 750 aircraft in service and more than 520 on order.
Latin America is poised to become a major player in global air traffic. With a growing middle class, increasing adoption of LCCs and the rise of e-commerce, the region is well placed to experience significant growth in air traffic over the next two decades. Industry players such as Airbus are already positioning themselves to meet this growing demand.
