Market Size of Latin America Aviation Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 11.39 Billion |
| Market Size (2029) | USD 11.74 Billion |
| CAGR (2024 - 2029) | 0.61 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Latin America Aviation Market Analysis
The Latin America Aviation Market size is estimated at USD 11.39 billion in 2024, and is expected to reach USD 11.74 billion by 2029, growing at a CAGR of 0.61% during the forecast period (2024-2029).
The Latin American aviation market is witnessing a resurgence, propelled by the rising demand for domestic travel and cargo services, alongside the proliferation of low-cost carriers. As travel restrictions ease, passenger flows within the region and toward North America have rebounded, bolstering overall passenger traffic. Countries like Chile, Colombia, and Argentina are witnessing an expansion in aviation services within the Rest of South America. In 2023, the region saw a total air passenger traffic of 47.6 million, slightly down from 48.2 million in 2022.
Several countries, including Brazil and Peru, are moving towards privatizing their airports. This strategic move is poised to enhance airport infrastructure and capacity and bolster the region's general aviation market. Despite economic challenges and the lingering effects of the pandemic, Latin American nations are gearing up to modernize their military aircraft fleets. This move aims to bolster their armed forces and drive growth in the military aviation sector.
Latin America Aviation Industry Segmentation
The Latin American aviation market encompasses the sales of fixed-wing and rotary-wing aircraft in the region's commercial, military, and general aviation sectors. The report offers the latest trends, size, share, and market overview.
The Latin American aviation market is segmented by type and geography. By type, the market is segmented into commercial, military, and general aviation. The report also covers the market sizes and forecasts for the three countries across the region. For each segment, the market size is provided in terms of value (USD).
| By Type | |
| Commerical Aircraft | |
| Military Aircraft | |
| General Aviation |
| By Geography | |
| Brazil | |
| Mexico | |
| Argentina | |
| Rest of Latin America |
Latin America Aviation Market Size Summary
The Latin American aviation market is experiencing a resurgence, driven by increased demand for domestic travel and cargo services, alongside the growth of low-cost carriers. As travel restrictions have eased, passenger traffic within the region and towards North America has rebounded, enhancing overall market dynamics. Countries such as Chile, Colombia, and Argentina are expanding their aviation services, while Brazil and Peru are moving towards airport privatization to improve infrastructure and capacity. Despite economic challenges, there is a push to modernize military aircraft fleets, which is expected to stimulate growth in the military aviation sector. The commercial segment is set to dominate, with a significant increase in aircraft deliveries and passenger traffic, reflecting the region's ongoing appetite for new planes.
The demand for air travel is further bolstered by the burgeoning middle class in Brazil, which is driving domestic air traffic growth. The introduction of low-cost carriers has transformed the Brazilian aviation landscape, offering competitive pricing and stimulating interest in short-haul routes. Brazil leads South America in general aviation, with a substantial portion of the region's fleet based there. Strategic acquisitions in both military and civilian aircraft are anticipated to drive market demand. The Latin American aviation market is consolidated, with key players like Lockheed Martin, Embraer, Bombardier, Airbus, and Boeing dominating. Government initiatives and technological advancements are expected to propel market growth, with collaborations on new military aircraft models benefiting local manufacturers.
Latin America Aviation 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 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
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2.1 By Type
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2.1.1 Commerical Aircraft
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2.1.2 Military Aircraft
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2.1.3 General Aviation
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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 Argentina
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2.2.4 Rest of Latin America
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Latin America Aviation Market Size FAQs
How big is the Latin America Aviation Market?
The Latin America Aviation Market size is expected to reach USD 11.39 billion in 2024 and grow at a CAGR of 0.61% to reach USD 11.74 billion by 2029.
What is the current Latin America Aviation Market size?
In 2024, the Latin America Aviation Market size is expected to reach USD 11.39 billion.
