Big air traffic growth predicted

Latin American airlines will require 2 120 new aircraft between today and 2031, with an estimated value of $242 billion, according to the recently released Airbus Global Market Forecast (GMF). Globally, by 2031 some 28 200 new aircraft valued at $4 trillion will be required to satisfy future robust market demand. With GDP currently growing above the world average, socio-economic indicators predict Latin America’s middle class will double between 2012 and 2031. Additionally, Latin America has become the second most urbanised region worldwide after North America, and by 2031, 10 out of the 92 megacities with more than 10 000 daily long-haul passengers will be in the region. As a result of this region’s dynamic economic growth, Latin America’s air traffic will rise 5.3% per year over the next 20 years, well above the world average of 4.7%. Benefiting from this, the region’s airlines will grow their own traffic by almost 6% per year.