Market Size of Latin America Commercial Aircraft Cabin Interior Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 3.00 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Latin America Commercial Aircraft Cabin Interior Market Analysis
The Latin American commercial aircraft cabin interior market is anticipated to register a CAGR of over 3% during the forecast period.
The COVID-19 pandemic has had a major effect on the Latin American commercial aircraft cabin interior market. The onset of the COVID-19 pandemic led to a decline in air travel in the Latin American region owing to restrictions on travel as well as lockdowns that were being implemented by various countries in the Latin American region. Moreover, the pandemic also led to restrictions in terms of the supply of components to cabin interior manufacturers and this led to a decline in terms of production as well as revenue. In addition, the decline in the number of new aircraft deliveries during the COVID-19 pandemic also hampered the market for commercial aircraft cabin interiors in Latin America.
On the other hand, the decline in the COVID-19 pandemic paved the way for various new opportunities in the Latin American region. The increase in air travel owing to various countries lifting lockdown restrictions paved the way for increased demand for new aircraft deliveries to cater to the growing air passenger traffic in the region. Moreover, the decline in the pandemic also led to manufacturers recieving the parts and components required to manufacture the end product of cabin interiors thereby increasing their production as well as revenue. Thus, such developments will lead to the market witnessing growth during the forecast period.
Airlines in Latin America are expanding their fleet size to cater to the growth in air passenger traffic in recent years, which is expected to primarily generate demand for aircraft cabin interior parts and components. Additionally, as cabin interior forms an integral part of a passenger's overall travel experience, a few airlines are refurbishing their cabin interiors. However, the grounding of Boeing 737MAX and the recent outbreak of the COVID-19 pandemic is expected to impact the aviation sector in Latin America and result in the cancelation of orders for new aircraft. This effect on the procurement plans of airlines is anticipated to hamper the market growth in the coming years.
