In its latest forecast of the Latin American market, Boeing projects $120 billion Latin America market for new commercial planes, eight percent of which will be for less-than-90-seat regional jets and 80 percent will be single aisle 90+-seat aircraft.
The Boeing Latin America Current Market Outlook projects that single-aisle and twin-aisle airplanes in the 100 to 350-seat categories will account for almost all of the regional growth in air travel over the next 20 years.
The company said Latin American airlines will need 1,730 airplanes worth $120 billion over the next 20 years, according to an analysis presented Monday at the Latin America Airfinance Conference in Rio de Janeiro. Air travel within Latin America will grow 6.6 percent during this period, well above the world average growth of five percent -- second only to China's 8.8 percent forecasted growth rate.
Deliveries to airlines in Latin America will represent approximately four percent of the deliveries measured by dollar value worldwide between 2006 and 2025. Over the next 20 years, 200- to 400-seat aircraft will account for 12 percent of aircraft while less than one percent will be over 400 seats. Combined with the retained fleet and used airplane acquisitions, these new deliveries will result in a Latin America commercial airplane fleet of over 2, 420 airplanes by 2026.
Worldwide, Boeing forecasts a $2.8 trillion market for new commercial airplanes over the next 20 years and projects a need for approximately 28,600 new commercial airplanes (passenger and freighter), doubling the world fleet by 2026. The vast majority of these new airplanes will be in the single-aisle (90 seats and above) and twin-aisle (200-400 seats) categories.