The aviation sector in Latin America and the Caribbean is currently witnessing an upsurge, propelled by a rebound in travel demand and expanding economic opportunities. This region, known for its rich cultural heritage and breathtaking landscapes, is becoming increasingly accessible thanks to enhanced air connectivity and infrastructure developments. The growing enthusiasm for both leisure and business travel is driving unprecedented growth in passenger volumes and route expansions.

Valued at $38.55 billion in 2023, the market is further projected to grow at a compound annual growth rate of 4.4% between 2024 and 2032, reaching a value of USD 56.59 billion by 2032. With passenger flows within the region and to North America on the rise, passenger numbers in Central America have already surpassed pre-pandemic levels. This trend is expected to continue in South America and the Caribbean. Domestic travel and cargo movements have seen a recent resurgence, aided by the growth of low-cost carriers in the region. The fleet size is also expected to double in the next 15 years.

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