In the offices of Bombardier Business Aircraft, new orders and customer-focused innovation make executives confident about the future of private aircraft in Latin America.
The region is the world's third largest market for business aircraft, and Argentina, Brazil, Mexico, and Venezuela account for over 80% of the regional fleet. Over the next decade, the company expects Latin America will receive 650 deliveries valued at US$18 billion.
"Bombardier is confident that private aviation in Latin America will continue to grow in coming years," Thomas Fissellier, director of market analytics and customer insights with Bombardier Business Aircraft told Latin Trade. "Latin America represents a tremendous opportunity for business aviation. Deliveries in Latin America are expected to remain steady over the next few years as the region's economy continues to improve," he added.
INNOVATE TO GROW
Innovation is driving strong growth in deliveries in both the business and commercial sectors. The company's Commercial Aircraft Market Forecast 20172036 for the region predicts overall traffic growth of 5.1% annually and foresees intra-regional traffic will increase by 5.6% annually over the next two decades, slightly more than the world average.
Sales and use of civil aviation "rotary wing" aircraft, or helicopters, are strong in the region compared to Asia-Pacific, and this aircraft segment is especially buoyant in Brazil, according to Research & Markets, an industry research firm. The research concluded that expansion is "a good opportunity for global aircraft manufacturers and OEMs (original equipment manufacturers) to set up the base to service this region."
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