Boeing Forecasts Latin America and Caribbean Region
to Need 2,240 New Planes by 2041
With Latin American air travel outpacing the
industry’s global recovery, Boeing has forecast the region’s commercial fleet
to grow by more than 85% over the next 20 years, fueled by the strength of domestic
and intra-regional travel. In total, the Latin American and Caribbean region
will need 2,240 new airplanes by 2041, according to Boeing’s 2022 Commercial
Market Outlook (CMO).
Source: Travel News Asia
The annual projection for commercial airplanes and
services, forecasts that more than 2,000 single-aisle deliveries will more than
double the current fleet to serve popular leisure routes between North America,
Mexico and Caribbean, while also expanding intra-regional networks.
As the fleet grows, demand for commercial aviation
services will grow as well, reaching $165 billion in value over the forecast
period.
“Latin America has seen a strong recovery in air
travel, particularly in domestic markets, with airlines in the region
successfully leveraging single-aisle fleets for short-haul flights and
expanding global networks,” said David Franson, Boeing Regional Director of
Market Forecasting. “Airlines will continue to navigate Latin America’s
challenges to make air transportation more available and attractive to
travelers in the region.”
Boeing expects more than half of new airplane
deliveries will accommodate growth in commercial aviation across the continent,
with the remaining orders replacing older airplanes with more fuel-efficient
models such as the 737 MAX, 787 Dreamliner and 777X.
In the past decade, Latin American carriers have
opened more than 200 city pairs across the region, a foundation for future
single-aisle demand that will account for over 90% of deliveries.
The 2022 Latin America CMO also includes the
following projections through 2041:
- Passenger traffic in the region is expected to
grow at 4.4% annually;
- Latin America’s freighter fleet is predicted to
grow by nearly 50% to 160 airplanes, aligned with global trends for long-term
air cargo demand;
- The region’s carriers will see demand for 118,000
new aviation personnel, including 35,000 pilots, 35,000 technicians and 48,000
cabin crew members in the next two decades.
Fleet renewal is a key component of decarbonizing
aviation. New airplanes provide significant efficiency gains with each
generation reducing fuel use and emissions by approximately 15-25%.