Boeing has forecast that air cargo operators
will need more than 2,600 freighters over the next two decades to
keep up with increasing global freight traffic, which is expected
to double with 4.2% growth annually.
The 980 new medium and large freighters and
1,670 converted freighters will go toward replacing older
airplanes and growing the global fleet to meet demand, according
to the new World Air Cargo Forecast released by Boeing on Tuesday.
"The air cargo market continues to be a major
element of commercial aviation's growth story," said Darren Hulst,
managing director of Market Analysis & Sales Support at Boeing
Commercial Airplanes. "Our new forecast indicates strong long-term
air cargo trends, which coincide with the market recovery that we
have seen over the last few years across Europe, North America,
Some of the factors driving the growth in air
cargo include a growing express market in China and the global
rise of e-commerce, which is forecast to increase 20%
annually to nearly $5 trillion in 2021 according to Boeing's
To meet growing market needs, Boeing also
- The world freighter fleet will expand by more
than 70%, from the current total of 1,870 to 3,260
- Boeing projects new production freighter
deliveries valued at $280 billion.
- Demand for regional express services in
fast-developing economies will boost the standard-body share of
the freighter fleet from 37% today to 39%.
- 1,170 standard body and 500 medium wide-body
passenger airplanes will be converted into freighters over the
next two decades.
- Dedicated freighters, which provide unique
capability that passenger belly-cargo cannot match, will continue
to carry more than 50%of the world's air cargo demand. The
majority will be in the large widebody freighter category, such as
the 747-8 Freighter and 777 Freighters.
"With 90% share of the freighter market,
Boeing is well positioned to capture this growth," said Hulst. "We
have invested in our freighter family to help express cargo and
general freight operators carry out their missions around the
world. Whether it's our 777 Freighter or our 737-800BCF program,
Boeing offers the most capable family of freighters with the best
combination of payload, range and fuel efficiency."
Since January 2017, Boeing has sold 128
freighters, including 80 production and 48 converted freighters.
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