Boeing cites Brazil as future leader in Latin American aviation sector
Boeing has projected that Latin American carriers will demand 2,180 new aircraft over the next two decades, outpacing the rest of the world in terms of aviation growth. But Boeing said the key nation contributing to this growth will be Brazil, which has an aviation market currently valued at $85 billion.
Boeing estimated that airfreight in the Latin American region will grow 6.4 percent in the next 20 years, necessitating roughly 75 cargo planes. The airline manufacturer also projected that Latin American air travel will increase 6.9 percent over the next two decades, spurred by a yearly economic growth rate of approximately 4 percent.
The cost of procuring the aircraft needed to meet both increased passenger and freight demand is estimated at $210 billion. Of the Latin American nations, Brazil is expected to lead the aviation sector in demand, accounting for 40 percent of this projected value.
Randy Tinseth, vice president of marketing for Boeing Commercial Airplanes, believes that Brazil is well-positioned to become an aviation powerhouse.
“Much of the growth in Latin America will take place in Brazil as the region’s largest aviation market,” Tinseth said in a statement. “Brazil has seen a nearly 50-percent increase in the number of jet aircraft in the last 10 years, and there are no signs of slowing over the next 20 years due to a strong economy, growing middle class, and more access to air travel due to the introduction of the low-cost carrier model in the region.”