The Latin America aviation market size was valued at USD 38.55 Billion in 2024. The market is further projected to grow at a CAGR of 4.40% between 2025 and 2034, reaching a value of USD 59.30 Billion by 2034.
The Latin America aviation market share has been growing due to the growing passenger traffic driven by rising disposable income, improved air connectivity, and competitive airfares. For instance, in 2022, the International Air Transport Association (IATA) reported a 73.2% year-on-year increase in international passenger traffic in Latin America, which presents opportunities for airlines to expand their routes and frequencies.
Additionally, the expansion and modernisation of airports to accommodate the growing demand for air travel, enhance operational efficiency, improve passenger experience, and elevate safety standards are fuelling Latin America aviation market growth. For example, the Brazilian government has invested in the modernisation of airports in major cities like São Paulo and Rio de Janeiro, while the Mexican government has announced plans to build a new airport in Mexico City to replace the overcrowded Benito Juarez International Airport.
The emergence of low-cost carriers in Latin America has revolutionised the aviation market, making air travel more affordable and accessible to a broader segment of the population, stimulating competition, improving services, and increasing air connectivity. For instance, carriers like Viva Air, JetSmart, and Volaris have introduced low-cost business models, offering competitive airfares and simplified services, leading to increased demand for air travel in the region.
The commercial aviation segment is growing due to the demand for freighter aircraft, which is driven by the growing e-commerce sector and the need for efficient cargo transportation. The general aviation market in Latin America includes helicopter operations for various purposes, such as tourism, medical evacuation, and offshore oil and gas operations. Brazil is the largest market for helicopters in the region, followed by Mexico and Argentina. The business jet market in Latin America is growing, driven by the increasing demand from high-net-worth individuals and corporations.
The Latin America aviation market share has been growing due to the growing passenger traffic driven by rising disposable income, improved air connectivity, and competitive airfares. For instance, in 2022, the International Air Transport Association (IATA) reported a 73.2% year-on-year increase in international passenger traffic in Latin America, which presents opportunities for airlines to expand their routes and frequencies.
Additionally, the expansion and modernisation of airports to accommodate the growing demand for air travel, enhance operational efficiency, improve passenger experience, and elevate safety standards are fuelling Latin America aviation market growth. For example, the Brazilian government has invested in the modernisation of airports in major cities like São Paulo and Rio de Janeiro, while the Mexican government has announced plans to build a new airport in Mexico City to replace the overcrowded Benito Juarez International Airport.
The emergence of low-cost carriers in Latin America has revolutionised the aviation market, making air travel more affordable and accessible to a broader segment of the population, stimulating competition, improving services, and increasing air connectivity. For instance, carriers like Viva Air, JetSmart, and Volaris have introduced low-cost business models, offering competitive airfares and simplified services, leading to increased demand for air travel in the region.
The commercial aviation segment is growing due to the demand for freighter aircraft, which is driven by the growing e-commerce sector and the need for efficient cargo transportation. The general aviation market in Latin America includes helicopter operations for various purposes, such as tourism, medical evacuation, and offshore oil and gas operations. Brazil is the largest market for helicopters in the region, followed by Mexico and Argentina. The business jet market in Latin America is growing, driven by the increasing demand from high-net-worth individuals and corporations.
Market Segmentation
Latin America Aviation Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments:Market Breakup by Type
- Commercial Aviation
- Freighter Aircraft
- Passenger Aircraft
- General Aviation
- Helicopter
- Business Jets
- Piston Fixed-Wing Aircraft
- Turboprop Aircraft
- Military Aviation
- Combat Aircraft
- Non-combat Aircraft
Market Breakup by Country
- Brazil
- Mexico
- Argentina
- Others
Competitive Landscape
Market players are focused on providing low-cost carriers across aviation industry to stay ahead in the competition.- Airbus SE
- Dassault Aviation SA
- Lockheed Martin Corporation
- Bombardier Inc.
- The Boeing Company
- Cirrus Design Corporation (Cirrus Aircraft)
- Pilatus Aircraft Ltd.
- Diamond Aircraft Industries GmbH
- Piper Aircraft, Inc.
- Embraer S.A.
- Leonardo S.p.A.
- Others
Table of Contents
1 Executive Summary
2 Market Overview and Stakeholder Insights
3 Economic Summary
4 Country Risk Profiles
5 Global Aviation Market Overview
6 Latin America Aviation Market Overview
7 Latin America Aviation Market by Type
8 Latin America Aviation Market by Country
9 Market Dynamics
10 Trade Data Analysis (HS Code: 882)
11 Competitive Landscape
Companies Mentioned
- Airbus SE
- Dassault Aviation SA
- Lockheed Martin Corporation.
- Bombardier Inc.
- The Boeing Company
- Cirrus Design Corporation (Cirrus Aircraft)
- Pilatus Aircraft Ltd.
- Diamond Aircraft Industries GmbH
- Piper Aircraft, Inc.
- Embraer S.A.
- Leonardo S.p.A.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 150 |
| Published | May 2025 |
| Forecast Period | 2025 - 2034 |
| Estimated Market Value ( USD | $ 38.55 Billion |
| Forecasted Market Value ( USD | $ 59.3 Billion |
| Compound Annual Growth Rate | 4.4% |
| Regions Covered | Latin America |
| No. of Companies Mentioned | 11 |
