Latin America and the Caribbean: Aircraft Market 2024

Aircraft Market Size in Latin America and the Caribbean

The Latin American aircraft market surged to $X in 2023, picking up by X% against the previous year. Overall, consumption continues to indicate a buoyant expansion. Over the period under review, the market attained the maximum level in 2023 and is expected to retain growth in the immediate term.

Aircraft Production in Latin America and the Caribbean

In value terms, aircraft production dropped notably to $X in 2023 estimated in export price. In general, production, however, showed a strong increase. The most prominent rate of growth was recorded in 2022 with an increase of X%. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2023, production remained at a lower figure.

Aircraft Exports

Exports in Latin America and the Caribbean

In 2023, aircraft exports in Latin America and the Caribbean expanded to X units, picking up by X% compared with the previous year. Overall, exports recorded a tangible expansion. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. As a result, the exports reached the peak of X units. From 2021 to 2023, the growth of the exports remained at a lower figure.

In value terms, aircraft exports contracted dramatically to $X in 2023. Over the period under review, exports continue to indicate a slight expansion. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. The level of export peaked at $X in 2021; however, from 2022 to 2023, the exports failed to regain momentum.

Exports by Country

The shipments of the three major exporters of airplanes and other aircraft, namely Colombia, Brazil and Guyana, represented more than two-thirds of total export. The Dominican Republic (X units) took an X% share (based on physical terms) of total exports, which put it in second place, followed by Chile (X%) and Uruguay (X%). Paraguay (X units) held a little share of total exports.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Guyana (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest aircraft supplying countries in Latin America and the Caribbean were Brazil ($X), Chile ($X) and Uruguay ($X), together comprising X% of total exports. Colombia, Paraguay, the Dominican Republic and Guyana lagged somewhat behind, together accounting for a further X%.

Guyana, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the export price in Latin America and the Caribbean amounted to $X per unit, declining by X% against the previous year. Overall, the export price saw a pronounced contraction. The pace of growth was the most pronounced in 2021 when the export price increased by X% against the previous year. Over the period under review, the export prices attained the peak figure at $X per unit in 2017; however, from 2018 to 2023, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Chile ($X per unit), while Guyana ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Guyana (X%), while the other leaders experienced more modest paces of growth.

Aircraft Imports

Imports in Latin America and the Caribbean

In 2023, supplies from abroad of airplanes and other aircraft increased by X% to X units, rising for the third year in a row after two years of decline. Over the period under review, imports saw strong growth. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, imports hit record highs in 2023 and are likely to continue growth in the immediate term.

In value terms, aircraft imports skyrocketed to $X in 2023. In general, imports continue to indicate tangible growth. The pace of growth appeared the most rapid in 2021 when imports increased by X%. Over the period under review, imports reached the maximum in 2023 and are expected to retain growth in the immediate term.

Imports by Country

In 2023, Argentina (X units) represented the major importer of airplanes and other aircraft, committing X% of total imports. It was distantly followed by Brazil (X units), making up a X% share of total imports. Chile (X units) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for Argentina (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X) constitutes the largest market for imported airplanes and other aircraft in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was taken by Argentina ($X), with a X% share of total imports.

In Brazil, aircraft imports expanded at an average annual rate of X% over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: Argentina (X% per year) and Chile (X% per year).

Import Prices by Country

In 2023, the import price in Latin America and the Caribbean amounted to $X per unit, jumping by X% against the previous year. Over the period under review, the import price, however, showed a abrupt descent. The growth pace was the most rapid in 2013 when the import price increased by X% against the previous year. The level of import peaked at $X per unit in 2015; however, from 2016 to 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Brazil ($X per unit), while Argentina ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Brazil (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform