Forecast: Latin America’s BizJet In-Service Fleet To Recede Slightly Over Decade

The Latin American in-service business jet is projected to recede from 2,433 in 2023 to 2,083 by 2032, with retirements outpacing the shipment of new aircraft. 

The region’s turboprop in-service, meanwhile, is expected to grow slightly from 2,143 today to 2,166 over the next decade, according to a 10-year Business Aviation Fleet and MRO Forecast by the Aviation Week Network.

In all, the total business aviation fleet is expected to decline from 4,576 today to 4,249 by 2032, at an annual compound fleet growth rate decline of 0.82%, according to the forecast. By comparison, Latin America’s in-service business aviation fleet totaled 4,168 in 2017. 

The forecast comes ahead of the 18th annual Latin American Business Aviation Association Conference & Exhibition (LABACE) to be held Aug. 8-10 at the Congonhas Airport in Sao Paulo, Brazil. It is the largest business aviation event in Latin America.

Over the decade, manufacturers are expected to deliver 900 new business jets and turboprops worth $16.5 billion, while aircraft retirements are projected to total 1,259, outpacing the shipments, the forecast predicts. It includes deliveries of 560 business jets and 359 turboprops. 

Many business aircraft flying in Latin America today are older and will be retiring. At the same time the economies of Venezuela and Argentina are not doing well, Aviation Week forecasters note. 

Latin America is a market favoring pre-owned business aircraft, notes Daniel Williams, Aviation Week senior manager of fleet, flight and forecast data. 

The forecast does not include used aircraft. 

"So while the numbers make it look that way, the fleet will probably grow, but not with brand new aircraft," Williams says.

At the same time, about 1,600 new business aviation engines are projected to be delivered in the Latin American region over the decade, with Pratt & Whitney Canada accounting for more than half of the market, followed by Williams International, Honeywell and Rolls-Royce, the forecast predicts.

By engine, the Pratt & Whitney PT6A medium engine leads expected to lead deliveries with 358 shipments, followed by the Williams FJ44 with 308, the Honeywell HTF7000 with 142 engines, the PT6A large engine with 140 and the Pratt & Whitney PW800 with 126 deliveries. 

The maintenance, repair and overhaul market, meanwhile, is expected to see a compound annual growth rate of 1.07% per year for the 10-year period.