“Brazil is a dynamic and well-diversified economy with a healthy growth in GDP,” says Dassault President and CEO John Rosanvallon. “We’ve seen countries like Brazil become the epicenter of business aviation’s recovery over the past several years.”

Hawker Beechcraft, meanwhile, says Brazil has been the second largest market outside the U.S. for its Hawker 400 program, and expects it to remain so for the 400XPR upgrade program.

The growth of the market becomes particularly important at a time when European general aviation markets have stagnated and Asian markets have slowed, Foley says. “We believe this region will continue to play a key role in sustaining what has been a very troubled industry, hopefully until the U.S. market regains its strength,” he notes.

While the focus has been on Brazil, other markets, including Mexico, have become stronger sales territories. In addition, used aircraft have sold well in Latin America alongside new aircraft.

Latin American now accounts for 10% of the worldwide fleet, but Foley says that it has been under appreciated. “Were it not for the steady activity the region has provided, especially during this recent downturn, our manufacturers would be in even direr straits today.”