Airbus: Latin American airlines will require more than 2100 new aircraft in next 20 years

Airbus forecast (16-Nov-2012) Latin American airlines will require 2120 new aircraft over the next 20 years, including 1660 narrowbody, 420 widebody and 40 very large aircraft, with total value estimated at USD242 billion. Globally, by 2031 some 28,200 new aircraft valued at USD4 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. Airbus forecasts Latin America's air traffic will rise 5.3% p/a over the next 20 years, well above the world average of 4.7%. Regional airlines will grow their own traffic by almost 6% p/a, the second highest growth globally, only exceeded by those airlines based in the Middle East. Additionally, Latin American airlines' market share on long-haul routes increased by 8% between 2005 and 2011, to reach 21% today, showing that they have significant development potential for intercontinental networks. [more - original PR]