South America General Aviation Market - Growth, Trends and Forecast (2018 - 2023)
The general aviation market in South America is expected to register a CAGR of 0.74%, and reach USD 1.46 billion by 2023. As of 2017, the market accounted for USD 12.98 billion. The scope of the present market study includes all aviation other than military and scheduled commercial airlines. General aviation covers a broad range of activities, both commercial and non-commercial, including sports aircraft, flying clubs, flight training, agricultural aviation, light aircraft manufacturing, and etc. General aviation forms a considerable component of any national airspace and airport system. As a result, insight into general aviation industry is relevant to issues in air traffic management, air transportation infrastructure, and aviation safety, among others.
Beyond the operational aspect, general aviation is of significance to society, as a whole and other stakeholders, including pilots groups, aircraft manufacturers, and the workforce. The performance of general aviation industry is measured using various parameters, such as active pilots, new airplane deliveries, number of airports, and etc. The market is influenced by several factors, such as the health of global economy, technology disruption, the price of avgas, and jet fuels, regulatory standards, and etc. Increasing number of passengers using chartered jet, travel and tourism are some of the drivers identified in the current market.
High Growth in South America
Embraer is one of the dominant players of the South America Market, with its range of Business jets selling in high numbers, especially in Brazil. The large cabin jets are performing the best in the market, with an increase in their penetration into newer markets, such as Venezuela, Peru, and Colombia. The penetration of rotary wing is quite substantial in some South American countries, like Brazil. Sao Paulo is considered as the helicopter capital of the world owing to the presence of one of the highest number of helicopters per capita in the world. However, in countries apart from Brazil, the penetration of Rotary wing aircrafts is quite low, hence presents an opportunity for global aircraft manufacturers to provide services in this region.
Key Developments in the Market