A report by Airbus has predicted that Latin America will require 2,570 new passenger and freighter aircraft worth $350bn between last year and 2035.

The new Airbus Global Market Forecast report has also projected that Latin America’s passenger and freighter fleet will surpass 3,000 in the next two decades, more than double the fleet in-service today.

The demand is expected to grow on par with the world's annual average of 4.5% until 2035.

The estimated growth rate considers the 3.8% traffic increase between Latin America and other continents, as well as the 4.9% increase in Latin America’s domestic and intra-regional traffic in the next 20 years. 

Latin America’s middle classes will play a role in fuelling this growth.

"This business model will impact market dynamics in the years to come, especially in domestic and intra-regional travel."

Airbus Latin America and Caribbean president Rafael Alonso said: “There’s no doubt that solid long-term growth is in store for Latin America, and we see single-aisle aircraft leading the demand. We believe the A320neo Family, already flying with Latin America’s top carriers, remains perfectly suited to deliver on future growth and efficiency demands in the region, given its superior performance and comfort.

“In the next 20 years, Latin America will also be impacted by the rise of low-cost carriers in key markets such as Colombia, Chile, and Peru. This business model will impact market dynamics in the years to come, especially in domestic and intra-regional travel.

“Looking ahead, we also see a good opportunity for the region’s carriers to be more bullish on developing intra-regional routes, a space in which Latin America is less developed than other regions.”

Among the Latin American countries, Brazil will require more than 1,400 aircraft by 2035 to meet the market demand. The traffic growth is predicted to rise by 4.8% per annum in the next two decades, above the region’s and world’s rates.

With more than 1,000 aircraft sold and a backlog of nearly 450, almost 650 Airbus aircraft are in operation throughout Latin America and the Caribbean. This figure represents a 53%market share of in-service fleet.

Image: A clear sky. Photo: courtesy of Airbus.