Latin American aviation industry is expected to see a CAGR of around 2.8% during the period (2019-2025). Economies such as Brazil, Argentina, and Venezuela are primarily in the aviation market of Latin America due to the well-developed passenger and cargo airline sector compared to other Latin American countries. Demand for air transport is closely tied to economic growth and is therefore expected to continue to increase in Latin America and the Caribbean. The suspension of passenger flights due to the COVID-19 outbreak has led to the loss of available cargo capacity in Latin America. This is especially critical across Latin America and the Caribbean where, in many cases, no alternative means of transport exists. The decline in the number of domestic and international flights for passenger and cargo transport further impacted the aviation industry in the region.

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Latin American aviation industry is segmented into passenger airlines, cargo airlines, aircraft manufacturing, airport management, and catering & other services. Based on the segmentation, the passenger airline segment is anticipated to get highly affected along with catering & other services. Passenger airline is the largest segment contributing to the aviation industry. A passenger airline is an airline dedicated to the transport of passengers. There are several types of passenger airlines including mainline airlines, regional airlines, low-cost carriers, business class airlines, charter airlines, flag carriers, and others. The cargo airline segment in Latin American is showing the highest CAGR of around 4.0% during the forecast period. Cargo airlines are the airfreight carriers mainly dedicated to transport cargo by air. It is a costlier means of transport however used to transport necessary and costlier goods all across the globe, at a very fast rate as compared to road, railway, and marine routes. 

Some of the companies operating in the Latin American aviation market and get prominently affected by this outbreak include Aerolíneas Argentinas S.A., Avianca S.A., LATAM Airlines Group, Interjet Airlines, and GOL Linhas Aéreas S.A. The operations of these companies have been significantly affected amidst the outbreak of the COVID-19 pandemic. In June 2020, LATAM Airlines Group announced the cease of its passenger and cargo operations for an indefinite period. LATAM Airlines Argentina ceased the flights to/from around 12 domestic destinations while international destinations in the US, Brazil, Chile, and Peru will continue to be served by other LATAM affiliates, once COVID-19-related travel restrictions are lifted by the authorities.

Research Methodology

OMR global recently published a report addressing the impact of COVID-19 on the Latin American aviation industry. The study is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data. Different approaches have been worked on to derive the market value and market growth rate. In the report, the analysis of the country is provided by analyzing various regional players, laws and policies, consumer behavior, and macro-economic factors. The report includes an analysis of different regions and countries and the effect of COVID-19 on the aviation industry of each respective region. Besides, an expected recovery timeline of the industry will also be included with the best- and worst-case scenario which will aid clients to take their future steps in the decision-making process.

Sources Include

• Financial reports of companies involved in the market
• Whitepapers, research-papers, and news blogs
• Company websites and their product catalog
• Government Organizations Reports

The report provides an in-depth analysis on market size, intended quality of the service preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models.

The Report Covers

• Comprehensive research methodology of the Latin American aviation industry.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the Latin American aviation industry.
• Insights about market determinants which are stimulating the Latin American aviation industry.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.