Latin America Airliner Demand Projected to Soar by 85% Over Next 20 years - Boeing

WASHINGTON, October 25 (Sputnik) - Demand for commercial airliners across Latin America and the Caribbean region is projected to almost double over the next two decades, Boeing announced in its annual Commercial Market Outlook (CMO).

"With Latin American air travel outpacing the industry’s global recovery, the region’s commercial fleet is projected to grow by more than 85% over the next 20 years, fueled by the strength of domestic and intra-regional travel," Boeing said in a press release on Monday. "The region is well-positioned for healthy recovery beyond near-term market disruptions."

According to the CMO, the Latin American and Caribbean region will need 2,240 new airplanes by 2041 and more than 2,000 single-aisle deliveries will more than double the current fleet to serve popular leisure routes between North America, Mexico and the Caribbean, while also expanding intra-regional networks.

"As the fleet grows, demand for commercial aviation services will grow as well, reaching $165 billion in value over the forecast period," the CMO said.

More than half of the new airplane deliveries will add to overall capacity and growth in commercial aviation across Latin America, with the remaining orders replacing older airplanes with more fuel-efficient models such as the 737 MAX, 787 Dreamliner and 777X, Boeing said.