Latin America commercial aircraft services market value set to double by 2042

In April, Airbus released its Global Services Forecast (GSF) for the next twenty years in Latin America and the Caribbean. The commercial aircraft services segment is expected to double in value by 2042 in the region, from US$7 billion in 2023 to US$14 billion, with an average annual growth rate of 3.3%.

Traffic growth and fleet development will drive demand for air travel in the region over the next 20 years. A growing middle class, expected to reach 490 million people by 2042, will drive both international and domestic air travel at a projected average annual rate of 3.5%.

With this growing demand, the GSF projects that more than 1,200 aircraft will be replaced by 2042 as a result of continued fleet modernization and investment in the latest generation of aircraft. As a result, market opportunities for reuse, repair and recycling will grow. Driven by demand for spare parts and engine overhauls, Airbus expects the maintenance market to grow from $6.2 billion in 2023 to $11.4 billion in 2042, at a CAGR of 3.2%.

The ‘Training’ and ‘Flight Operations’ market is expected to grow from an already high demand for training of $600 million in 2023 to $900 million in 2042 (2.1% CAGR). Investments in improving the customer experience will see the highest growth (4.9% CAGR) from US$500 million in 2023 to US$1.3 billion in 2042.

Next-generation aircraft will also provide opportunities to optimize services and enhance the capabilities of digital ecosystems, enabling more than 2,500 connected aircraft in the region over the next 20 years.

As a result, Airbus anticipates a cumulative need for an additional 120,000 professionals in Latin America and the Caribbean over the next 20 years, including 40,000 new technicians, 30,000 new pilots and 50,000 new cabin crew members.

To support this continued growth, Airbus has established a network of three training centers in the region to provide local support to all operators: The Airbus Mexico Training Centre (AMTC) with two A320 Full Flight Simulators to train pilots and operators; the Airbus Brazil Training Centre (ABTC) at Azul's corporate university, offering training and courses on an A320 simulator; and the Airbus Chile Training Centre (ACTC), inaugurated in 2021, with an A320 Full Flight Simulator (FFS) and recently adding a second A320 FFS.

For more information contact:
Angelica Murcia
Communications Manager Latin America & Caribbean
angelica.murcia@airbus.com