Latin America & Caribbean fleet to almost double by 2042

The latest edition of the Airbus Global Market Forecast 2023 (GMF23) for the Latin America and Caribbean region was recently published and presented the latest number of aircraft foreseen to be in operation by 2042.

In early 2020, 1,440 aircraft were in service in Latin America & Caribbean of which 240 are anticipated to stay in airlines’ fleet by 2042, while 2,390 new aircraft will enter into service to heavenly grow the fleets (1,190 units) or replace aging aircraft  (1,200 units), making a total aircraft flying by the next 20 years of 2,630 airplanes.

Over the next 20 years, the deliveries for typical single-aisle will account for the majority of the new aircraft with 2,200 aircraft, and will remain the highest proportion than any other regions with 92 percent of the total. This high demand for single-aisle aircraft is explained by a high urbanization (81% in 2019, 86% in 2042 - the second largest worldwide after the north American market), a 2.5% real GDP growth on average per year*, and a growing middle class, driving the demand for air travel, which will reach 490 million inhabitants or 67% of the total population in the region.

On the traffic fronts within the Latin America and Caribbean region, the predominant domestic markets are forecasted to grow at a solid 3.8% annually* while the today’s underserved intraregional market is set to grow at a solid 3.2%*. Internationally, the markets with North America and Europe will continue to respectively expand at 3.3% and 2.6% and will stay as the most mature markets beyond borders of the region. The traffic with the rest of the world will also continue to grow at even higher rates but will represent a lower volume of passenger traffic.

Finally, the cargo traffic will increase in Latin America and the Caribbean by a factor 1.8 between 2019 and 2042 where the main markets of North America, Europe-CIS and Asia-Pacific will continue to grow at solid CAGR* situated between 2.2% and 3.6%, while the intraregional cargo traffic will see the highest growth at 2.9%* within the region (versus a domestic growth at 2.6%).

* 2019-2042 Compound Annual Growth Rate (CAGR)

For more information contact:
Damien Sternchuss
HO Airline Marketing Latin America & Caribbean
damien.sternchuss@airbus.com