TOULOUSE, France, 18 Nov. 2012.Latin American airlines will need 2,120 new aircraft between now and 2031, say market analysts from European commercial aircraft manufacturer Airbus in Toulouse, France. Necessary aircraft include 1,660 single-aisle, 420 twin-aisle, and 40 very large aircraft with a total estimated value of $242 billion.
Globally, by 2031 some 28,200 new aircraft worth $4 trillion will be necessary to satisfy future robust market demand, Airbus officials say. These figures are from the Airbus Global Market Forecast (GMF)
Latin American economies are growing faster than the world average, and Latin America’s middle class will double between 2012 and 2031, Airbus analysts say. Latin America has become the second most urbanized region worldwide after North America.
By 2031 Latin American will have 10 out of the world's 92 mega-cities with more than 10,000 daily long-haul airline passengers, Airbus analysts predict. Air traffic in the region will rise 5.3 percent per year over the next 20 years, well above the world average of 4.7 percent.
The region's airlines will grow their own traffic by almost 6 percent per year -- the second highest growth globally -- only exceeded by Middle Eastern airlines. Latin American airlines increased their market share on long-haul routes by 8 percent between 2005 and 2011, to reach 21 percent today.
Increased aircraft demand also is encouraging Latin American airlines to order larger aircraft, Airbus analysts say. Between 2000 and 2012, average aircraft seat capacity increased by more than 13 percent, while the average age of Latin America’s fleet in service decreased to 10 years, which is below the world average.
Low-cost airlines also are growing in Latin America. Brazil and Mexico have become leaders of the low-cost-carrier segment in the region, with the two countries combined contributing to 95 percent of the market, analysts say.
For more information contact Airbus online at www.airbus.com.