Mexico will require 391 new airplanes worth approximately $21 billion over the next 20 years, according to The Boeing Company's annual forecast for the commercial airplane market. The forecast represents a moderate increase over last year's projections.
Single-aisle airplanes will dominate the Mexican market and the Latin American market as a whole. In Mexico, approximately 86 percent of all airplanes delivered into the country will be single-aisle models like the Boeing 717, 737 and 757. Six percent will be twin-aisle airplanes like the 767 and 777, and 8 percent will be smaller regional jets.
The Sonic Cruiser was not included in the forecast, although Boeing expects there will be a market for the advanced, high-technology airplane in Mexico in the long term.
Mexico represents one-fifth of the total requirement for 2,012 new airplanes worth $104 billion forecast for Latin America through 2020, also an increase over last year's projections.
Air travel to, from and within Latin America is expected to grow at an average rate of 5.7 percent annually, compared to a world average of 4.7 percent. Intra-Latin America air travel will grow at a rate of 7.7 percent, making it the fastest-growing passenger market in the world.
The number of routes and their frequencies among all Latin American airlines combined are expected to increase by 6 percent annually - a positive trend for passengers, who are increasingly demanding a wider selection of where and when to fly.
"Latin America, and especially Mexico, represent a very dynamic and promising market in the next 20 years," said Daniel da Silva, Boeing vice president of Sales for Latin America and the Caribbean. "Clearly the market has softened, but in the long term we expect economic conditions to rebound and the demand for airplanes to increase as Latin America moves further toward de-regulation, which will lead to more route frequencies and more choices for consumers."
Boeing continues to lead in airplane deliveries in Latin America. Since 1988, 75 percent of all airplanes delivered to Latin America have been Boeing models, including direct sales and operating leases. Eighty percent of all airplanes flying in the region today are Boeing products.
Boeing estimates the world fleet will need 23,500 new jets by 2020, worth $1.7 trillion. An additional $3 trillion in aviation services is forecasted. The Boeing market forecast is widely regarded as the most comprehensive and respected analysis of the commercial aviation market.
The complete forecast is available on the company's Web site at www.boeing.com/commercial/cmo/