Latin American Engine MRO Market Prepped For Growth

Aviation Week’s 2023 Commercial Fleet & MRO Forecast projects that Latin America will account for 5.3% of the worldwide engine MRO market after more than 7,900 engine service events through 2032, resulting in a modest 3.7% compound annual growth rate.

The Latin American engine fleet is forecast to grow to nearly 7,000 active engines in 2032 from just under 4,500 in 2023—a 55% increase. This fleet expansion and the commensurate utilization expected is projected to drive MRO spending up more than 3.7% over the 10-year period.

The forecast projects that the CFM International CFM56 will capture the majority of engine MRO expenditures, with 29.3% of the total Latin American engine market, followed by the International Aero Engines V2500 (14.6%) and Pratt & Whitney PW1000G (11.6%).