Market Size of Latin America Commercial Aircraft Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 10.00 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Latin America Commercial Aircraft Market Analysis
The Latin American commercial aircraft market is expected to register a CAGR of more than 10% during the forecast period (2022-2027).
Due to the impact of COVID-19, the aviation industry in the Latin America region was severely affected as the total air passenger traffic decreased greatly in 2020, which led to a reduction in the revenues of airlines. The pandemic, coupled with an earlier financial crisis, led to the bankruptcy of several airlines and the ceasing of their operations. However, in 2021, the passenger traffic in the region began to recover gradually, which led to the restructuring of airlines from bankruptcy.
As the passenger traffic in the region recovered in 2021, the airlines and aircraft operators are undertaking fleet modernization and could plan to expand their fleet and introduce new generation aircraft by replacing aging aircraft fleet. In addition to the passenger aircraft fleet, the growing demand for cargo over the past few years is propelling the demand for the procurement of new and advanced cargo aircraft. This is expected to drive the market's growth during the forecast period.
Latin America Commercial Aircraft Industry Segmentation
Commercial aviation is a part of civil aviation involving scheduled airline services that involve operating aircraft to transport passengers and cargo. The study gives a brief description of the commercial aircraft market worldwide and includes details on air passenger traffic, new routes, investments in airport infrastructure, air freight, and procurement of new aircraft.
The commercial aircraft market is segmented by application into passenger aircraft and freighters. Passenger aircraft are further segmented into narrow, wide, and regional aircraft. The report also offers the market size and forecasts for the aviation market in major countries in the Latin American region. The market size and forecasts for each segment are provided in terms of value (USD billion).
| By Application | |||||
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| Freighters |
| By Geography | |
| Brazil | |
| Mexico | |
| Colombia | |
| Rest of Latin America |
Latin America Commercial Aircraft Market Size Summary
The Latin American commercial aircraft market is poised for significant growth, driven by a robust recovery in passenger traffic and a strategic focus on fleet modernization. Following the severe impact of the COVID-19 pandemic, which led to a substantial decline in air travel and financial distress for many airlines, the region has seen a gradual resurgence in passenger numbers. This recovery has prompted airlines to invest in new generation aircraft, replacing aging fleets to enhance efficiency and meet growing demand. The market is also witnessing increased interest in cargo aircraft, spurred by rising cargo demand. This dual focus on passenger and cargo aircraft is expected to propel market expansion over the forecast period.
Brazil stands out as a dominant force in the region's commercial aircraft market, with significant investments in new aircraft procurement driven by rising passenger traffic. Major Brazilian airlines, including LATAM Brasil, GOL Airlines, and Azul Airlines, have substantial aircraft orders, reflecting their commitment to fleet expansion and route network growth. The market is characterized by a high level of consolidation, with key players like Airbus, Boeing, Embraer, ATR, and Rostec holding significant market shares. These companies are expected to maintain their dominance through ongoing aircraft deliveries and strategic partnerships. The market's growth trajectory is further supported by initiatives such as LATAM group's expansion of its cargo business and the formation of joint ventures like the Abra Group, which aim to enhance operational efficiencies and market reach.
Latin America Commercial Aircraft Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Industry Attractiveness - Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size and Forecast by Value - USD billion, 2018 - 2027)
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2.1 By Application
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2.1.1 Passenger Aircraft
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2.1.1.1 Narrow-body Aircraft
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2.1.1.2 Wide-body Aircraft
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2.1.1.3 Regional Jets
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2.1.2 Freighters
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2.2 By Geography
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2.2.1 Brazil
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2.2.2 Mexico
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2.2.3 Colombia
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2.2.4 Rest of Latin America
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Latin America Commercial Aircraft Market Size FAQs
What is the current Latin America Commercial Aircraft Market size?
The Latin America Commercial Aircraft Market is projected to register a CAGR of greater than 10% during the forecast period (2024-2029)
Who are the key players in Latin America Commercial Aircraft Market?
Airbus SE, The Boeing Company, Embraer SA, ATR and Rostec are the major companies operating in the Latin America Commercial Aircraft Market.
