Boeing said: “To meet increased passenger traffic, Boeing forecasts the region will require more than 2,500 new single-aisle airplanes over the next 20 years, reflecting the continued growth of low-cost carriers and further expansion of networks in the region.
[While] widebody demand is forecasted at 340 new airplanes, as regional carriers continue to compete more strongly on long-haul routes”.
Donna Hrinak, president at Boeing Latin America added: “Over the long term, Latin American economies will grow faster than the rest of the world. This growth will create increased passenger traffic in the region and drive Latin American airlines to expand and compete for business that has traditionally been dominated by foreign operators.”
This is a trend that can already be seen in the market today; for example, Columbian airline Avianca announced that it had carried more than 2.4m passengers in January, which was a 5.6 per cent increase compared to January 2015.
Similarly, LATAM Airlines Group released preliminary monthly statistics for February 2016 earlier this month, which stated: “system passenger traffic increased by 6.9 per cent while capacity increased by 5.8 per cent”.
As Latin America is experiencing such notable growth and this growth looks set to continue, Boeing is focused on helping its Latin American customers succeed in the highly competitive marketplace by offering products like the 787.
According to the OEM, the 787 has allowed airlines including LATAM, Avianca and Aeromexico, to open new routes and access markets that were previously out of reach.
For example, Aeromexico now operates a nonstop 787 flight from Mexico City to Tokyo, a route that previously required a refuelling stop.